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Took over business, got gst for the year previous in the mail.

So I took over a small business on August 14, 2009. A few days ago I recieved a bill in the mail for G.S.T owing for the year previous to me taking it over. Am I responsible to pay this or do the responsiblities fall in the previous owners hands. If I am now responsible for this, are there any loopholes that could possibly free me from this debt I did not have anything to do with? There have also been three previous years billed to me.. am I at all responsible for paying any of this debt?? Im not sure if my question will be answered as I do not have a product.. Hopefully someone can help me.

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If you took over the business were you not aware of accumulated debt's from the previous owner? I'd hate to ask how much you paid for the business.... :-) is the business under your name now? Has all the transaction been complete? Do you have a lawyer?

Posted on Sep 30, 2009

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