Is a Form 1 Notice of Change sufficient to establish director resignation?
Director Liability & Resignation
Under certain circumstances, directors of a corporation can be held personally liable for the tax arrears of a corporation. This is referred to as director liability and one defense is that the Canada Revenue Agency (“CRA”) must assess a director within 2 years of resignation. Hence,...
Understanding Trust Amounts and CRA Collections
Understanding Trust Amounts and CRA Collections
When running a business, understanding your responsibilities around trust amounts and how the Canada Revenue Agency (CRA) handles collections is crucial. Failing to manage these obligations properly can lead to audits, penalties, and aggressive collection action. This article...
Director Liability and a Dissolved Corporation
A Director is Deemed Resigned upon Corporate Dissolution
Director Liability - Joint and Several Liability for a Corporation's Tax Debt
Director liability for unremitted employee source deductions, GST/HST, or Retail Sales Tax, is a common legal issue in the practice of Tax Law. These matters are...