GREY:SMDWF - Post by User
Post by
cheval57on Jul 13, 2016 9:43am
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Post# 25047716
Revenue Canada
Revenue CanadaThe company owes more than 500,000$ to Revenue Canada.
Since the company never recorded a profit, it definitly isn't unpaid income tax.
So the only thing left is unremitted source deductions and unremitted general sales tax.
When a company keeps for itself money that doesn't belong to it, it is already a major problem.
However, if you are not aware of it, the directors of a company are jointly and severally liable for these unremitted amounts.
So maybe it would be a good thing to see if there will be something left in George Fleming's pockets before going to court.
It is so easy nowadays to go bankcrupt and start over again.
For my part, I lost almost 30,000$ in this endeavor.
Very sad indeed.