Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
XXXXXXXXXX
Dear Sirs:
RE: Director's Liability for Corporation Tax
This is in reply to your letter of June 11, 1993 in which you request the statutory sections of the governing legislation that creates the director's liability for a corporation's debt for Corporations Tax. We apologize for the delay in responding to your request.
The provisions of the Income Tax Act dealing with director's liability, can be found under section 227.1 of the Income Tax Act. We have enclosed copies of statutes relating to the above-mentionned section of the Income Tax Act along with the related technical notes. Also enclosed, is a copy of Information Circular 89-2 dealing with directors' liability.
We trust that the above comments will be of assistance to you.
Yours truly,
Maurice Bisson for DirectorBusiness and General DivisionRulings DirectorateLegislative and Intergovernmental Affairs and Branch
Enclosure
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© His Majesty the King in Right of Canada, 1993
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté le Roi du Chef du Canada, 1993
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