Corporate directors and officers may generally only be held personally liable for misconduct on the part of the corporation in limited circumstances where there has been improper or fraudulent conduct.
Directors' liability for source deductions
An issue came up when a CRA auditor queried CRA rulings. She had a file where she intended to assess the directors of a not-for-profit corporation for its failure to remit trust funds. The directors had retained legal counsel, who was of the view that directors’ liability does not apply to directors of a not-for-profit corporation.