If I owe GST through a professional corporation that I solely own, and is wound down and no longer operating, can the GST owed be included in a personal bankruptcy? If I understand correctly, I am personally responsible for the corporate GST even if I bankrupt the corporation. Correct? If so, can the GST be included in a personal bankruptcy?
Corporate GST and personal bankruptcy
Posted on Sunday, September 21, 2008
posted by Questions @ 6:58 am
1 Expert Comment:
At September 22, 2008 |
8:39 am
, Barton Goth GCO Bankruptcy Trustees Said...
You are right in all cases. If the corporation is wound down, or if it files bankruptcy, as director you are still legally responsible for the debt. However, if you file a personal bankruptcy this will clear you of this debt.
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