Keeping Records

This page contains my reading list - use it to learn more about keeping records for tax in Canada.

Concepts
IM Information Management (Treasury Board)
Tax records
Canada: CRA: Keeping records
New Businesses
Business Records
T4002 Business and Professional Income

Page 8 "Always get receipts or other vouchers when you buy something for your business. When you buy merchandise or services, the receipts have to show:  the date of the purchase; the name and address of the seller or supplier;  the name and address of the buyer; and a full description of the goods or services."

 


Electronic Records
E-commerce
IC05 Electronic Record Keeping
Destruction of records
IC78 Books & Records Retention/Destruction
Payroll
Payroll records
GST/HST
RC4022 General Information for GST/HST Registrants

"Page 14 gives a comprehensive list of what is required on a receipt for GST purposes. Although the chart is under the 'sales' section, it is referenced on page 16 to show what you need on your expense receipts for claiming ITC's.  You ALWAYS have to have the date of purchase, the name & address of seller or supplier, and the total amount paid or payable. For any purchase over $30, you must have the supplier's business number and well as a breakout of the GST charged/payable. There are further refinements, such as including a description of the goods or services for any purchase over $150. Between the two publications, T4002 and RC4022 you are safest if you take the CRA standards for allowable expenses and then add the requirements of business number and actual amount of GST/HST charged. That covers things fairly comprehensively."

 Thanks Jo! Commentary compliments of Jo H Ruelle CPB, Jo Ruelle BookKeeping

 


15.1 General requirements
15.2 Computerized records
Employment Standards
Employment Standards Branch
Worksafe BC
Employers' Advisers
Employers' Advisors - Sign up for their Newsletter

BC Labour Ministry and WCB share costs for an independent body to assist employers with WCB processes. Employer's Advisors service is free to Employers in BC.




 

 

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