Comments on: director liability for back taxes http://www.bankruptcy-edmonton.com/bankruptcy/2009/12/director-liability-for-back-taxes.html Bankruptcy Edmonton Tue, 07 Feb 2012 15:47:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bart Goth, Trustee in Bankruptcy http://www.bankruptcy-edmonton.com/bankruptcy/2009/12/director-liability-for-back-taxes.html/comment-page-1#comment-449 Bart Goth, Trustee in Bankruptcy Tue, 29 Dec 2009 18:49:33 +0000 http://www.bankruptcy-edmonton.com/?p=467#comment-449 Well as a director you are personally liable for the GST. So your options are as follows: 1. Make payment arrangements directly with CRA; 2. Obtain a consolidation loan to pay CRA in full and then make payments over time on your consolidation loan; 3. Depending on whether or not you have any other debts you may be able to consider the filing of a <a HREF="http://www.bankruptcy-canada.ca/consumerProposals.htm" rel="nofollow">consumer proposal</A> to try to negotiate a settlement with your creditors (please not likely not an option if all of your debt is with CRA); and 4. You could file a <a HREF="http://www.bankruptcy-edmonton.com/bankruptcy-edmonton.htm" rel="nofollow">personal bankruptcy</A>, although this should really only be considered if you have ruled out all other options. Well as a director you are personally liable for the GST. So your options are as follows:

1. Make payment arrangements directly with CRA;

2. Obtain a consolidation loan to pay CRA in full and then make payments over time on your consolidation loan;

3. Depending on whether or not you have any other debts you may be able to consider the filing of a consumer proposal to try to negotiate a settlement with your creditors (please not likely not an option if all of your debt is with CRA); and

4. You could file a personal bankruptcy, although this should really only be considered if you have ruled out all other options.

]]>