Entries by IdeaZone

August 2013

Back to School Edition, Includes: Record keeping got you down? Do you have to file a tax return? Common Deductions and Tax Credits for Students Non-refundable Tax Credits Click Here to Download

Corporate Directors Liability

If a corporation (including a for-profit or nonprofit corporation) fails to deduct, withhold, remit or pay amounts held in trust for the Receiver General for Canada (CPP, EI and GST/HST), the directors of the corporation at the time may be held personally liable along with the corporation to pay the amount due. This amount includes penalties and interest.