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If you claim bankruptcy does your business name and number became invalid?

Posted from: Ontario

One Response to “business”

A licensed trustee said...

Yes – you need to register a “new” business the day after you file. That menas a new business number for CRA. as well as new HST and other tax accounts. The old name dies, but if you were a sole proprietor the easy fix is to change the new name slightly. For example, if the old business was Bob’s Garage, the new business might be called Bob’s Garage 2013.

Discuss this with your trustee BEFORE you file.