The Income Tax Act[1] provides liability for the directors of a corporation where there has been: Failure to collect and remit source deductions under the Canada Pension Plan Act,[2] the Employment Insurance Act[3] and the income Tax Act; and Failure to collect and remit HST under the Excise Tax Act.[4] In order for the Canada Revenue Agency (CRA) …
Notable Tax Court and Federal Court (tax related) decisions released in 2017. Tax Court Hurd Dentistry v HMQ, 2017 TCC 142 – This case concerned the tax treatment of orthodontic supplies under the Excise Tax Act. Specifically, whether there is one supply of orthodontic treatment to a dental patient or two supplies—the orthodontic appliance and the orthodontic service. …
If you are a business owner who has chosen to incorporate, it’s likely that you are a director and officer of that corporation. Many owners don’t realize it, but directors are liable for the unremitted GST/HST of a corporation (pursuant to section 323 of the Excise Tax Act), and the unremitted source deductions of the corporation, including EI and CPP …
