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
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.