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De Facto Director: Personal Liability
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De Facto Director: Personal Liability
A director of a corporation, non-profit organization, or other entity can be personally liable for payroll source deductions and GST/HST that the entity fails to remit to CRA, unless the director exercised due diligence to prevent failure to remit these amounts on a timely basis. An individual can be held personally liable for up to two years after they resign as a director. A November 29, 2024, French Quebec Court of Appeal case considered whet…
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