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In our article, “The CRA is not a Bank - Director's Liability in an Age of Economic Uncertainty”, we strongly warned corporate directors to make sure that source deductions, GSTHST, employee EI premiums and employee CPP contributions are remitted to the Crown and not used as operating funds, regardless of whether the corporation has cash flow problems
Directors of Canadian corporations are exposed to potential liabilities under a variety of statutes, including the Income Tax Act ("ITA"), the Excise Tax Act ("ETA"), the Air Travelers Security Charge Act ("ATSCA"), the Excise Act, 2001, the Employment Insurance Act ("EI") and the Canada Pension Plan ("CPP"
