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pst & gst

I am considering declaring bankruptcy on my company. How does the government handle any outstanding monies owed to these agencies?

Posted from: Ontario

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One Response to “pst & gst”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Both GST and PST are debts that as a director you are personally liable for. So if you file a corporate bankruptcy this director liability still survives. Meaning both these creditors do not die with the corporation you will have to make arrangments to continue to pay these personally.