Small Business Taxes In Canada
August 27th, 2010
Question: Small Business owner Resignation?
I have a small business in Canada with a partner. I have been out of Canada the past two years, and I don’t know what has been happening in the company, I am resigning as President and Director of the Company now threw a notary public and alll papers are ready to be signed. Well this be a problem for me in anyway with Goverment or Taxes or anything else or am I exempt from everything in the company and I have nothing to do with its past or future?
Answer: The past might be a problem and would be up to a judge, but you’re free and clear for the future.
If the past ever made it into court, they would examine whether you knew or should have known what was going on. If your partner was up to something underhanded and was very good at disguising it, you would most likely not be considered liable. As partner, you had a certain role that carries certain expectations of knowing what’s going on in the company, but again if your partner was careful and you weren’t just turning a blind eye, then you’re 99% okay.
Canada existing home sales fall, sales tax blamed
Canada existing home sales fall, sales tax blamed
Tax in Canada
Posted in 
Tags: