Canada: Thinking Of Co-Signing A Business Loan? Loan Guarantors Are ‘On The Hook' For The Business' Debt, Talk To A Canadian Tax Lawyer First - Rotfleisch & Samulovitch P.C.

According to the Federal Court decision in Abrametz v. The Queen, when a taxpayer makes a payment under a guarantee for a corporation's indebtedness, it is generally regarded that the taxpayer has acquired the rights of the creditor ...