Directors Liability for source deductions before bankruptcy
March 7th, 2006 by Questions
Our company went under, and I declared personal bankruptcy due to personal guarantees on the business.
I failed to remit source deductions, and as a director before the personal bankruptcy (that also ended my directorship)., this made me personaly liable.
The personal bankrupcy ended my obligation to CRA, as a director liability, according to some canadian bankruptcy websites.
But CRA clains im still responsible.
It’s only for a small amount ($1000), however I don’t believe CRA rules can supercede the bankruptcy act (the old one before Nov 2005)
Can anybody give me a straight answer on this ?