GST and Payroll Source Deduction Arrears
Times are tough on many businesses right now. One problem that many of our clients face is how to pay their current payroll, and many end up using their payroll source deductions to do this.
Even if you can’t pay it is important to continue filing your GST returns and Payroll source deduction forms.
These debts are considered trust debts by the Canada Revenue Agency. Trust debts have different collection rules that can allow the Canada Revenue Agency to shut down your business.
Even if you operate an incorporated entity the Canada Revenge Agency has the ability to assess all the directors of the company for any trust debts that are not paid.
We can work with the agency to make a payment arrangement that doesn’t put you or your business into financial hardship.