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Outstanding HST submission to CRA

My business failed one year ago. All my taxes, personal and corporate, have been paid. However, there are outstanding HST submissions to CRA of almost $20,000. I am planning a personal bankruptcy, but as the sole director of my company I am personally responsible for the HST owing. Is there any way to avoid this. I am 75 years old and my only income is CPP etc.

Posted from: Ontario

One Response to “Outstanding HST submission to CRA”

A licensed trustee said...

Your HST liability is just like any other unsecured debt – if you file for personal bankruptcy it will be dealt with by your bankruptcy.

Before you make any decisions, have a chat with a trustee.