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Keeping RecordsRecords are accounting and other financial documents that are kept in an organized way. Records were traditionally kept in paper format and were called “books and records.” Today many kinds of records are kept in electronic formats. You are required to maintain adequate records if you are carrying on a business or engaged in a commercial activity in Canada. These records must provide sufficient details to determine your tax obligations and entitlements. They have to be supported by source documents to verify the information in the records. For detailed information on record keeping requirements for individuals, businesses, and other organizations consult the guide and publications listed below. Forms and publications
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