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Defining de facto

Thursday, March 19, 2015 @ 8:00 PM | By Adrienne Woodyard

Louis XIV’s Finance Minister famously observed that “the art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing.” The Canada Revenue Agency, which has stepped up its audit and collection efforts noticeably in recent years, doesn’t seem troubled by a bit of hissing.

This is a worrying trend for distressed corporations, whose directors may be held personally liable for the corporation’s failure to remit various taxes, including GST/HST and employee payroll...