Bankruptcy Question & Answer Forum - Alberta

Author:		Anonymous
Date:		November 9, 2009
Question:		live in Alberta and i used to own a limited corporation, it was sold 2 months ago. I know for a fact that i am personally responsible for the corporate GST owing for the company up to the time i sold the company. If i file for personal bankruptcy, will the corporate GST that i owe be included in the bankruptcy?? Thank You
From:		Karen Rideout
Date:		November 9, 2009
Answer:		First of all, if you sold the company then that means assets and liabilities which would include the tax debt. Perhaps you only sold the assets of the company and not the corporation itself. If that's the case then you are personally liable for all tax debt of the corporation and a personal bankruptcy would take care of that debt. Karen Rideout phone: (403) 296-2973 karen.rideout@ca.gt.com   click here to submit a question to the Alberta Bankruptcy Q&A forum If you wish to talk to one of the Alberta bankruptcy professionals at Grant Thornton Alger Inc., you can call us OLL FREE from anywhere in Alberta at 310-8888. After hour appointments are available.

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