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Alger Bankruptcy Services

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Bankruptcy Calgary Edmonton Q&A Forum



I have a incorporated business that has failed. I have about 3 years of back GST, payroll tax, etc. If i close the business, does that debt turn into a personal debt? Also, i filed personal bankruptcy about 10 years ago and was fully discharged. What happens if i have to file again?



Grant Thornton Limited



Jan 27, 2015



Brian If you are a director of the company, you can be assessed personally by CRA for unremitted source deductions and GST. You are not however personally liable for the debts until you have received a personal assessment. If you have to proceed to a second bankruptcy, you will be in bankruptcy for a minimum of 24 moths or up to 36 months dependent upon your earnings. Please call me to discuss your options. Thanks for the question.

Marie Kozlowski
T 403-296-3082


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