Your organization’s records are critical assets,
whether in paper, electronic or other format.
Properly managed and controlled, these
important resources can enable your
organization to compete, comply with laws
and regulations, and mitigate risk.
Government Regulations
Books and Records Retention/Destruction (IC78-10R4)
This circular provides guidance to those required to keep records under the Income Tax Act, Employment Insurance Act and Canada Pension Plan. The purpose, location, retention and inspection/audit/examination of these records are discussed. Part 5800 of the Income Tax Regulations is also included.
Electronic Record Keeping (IC05-1)
The focus of this circular is the retention of tax-related records in electronic format. Topics include recordkeeping requirements, use of third-party service providers, standards for establishing legal validity, business system documentation, audit trails and system controls.
Available at http://www.cra-arc.gc.ca/E/pub/tp/ic05-1/README.html
General Requirements for Books and Records (GST/HST Memoranda Series 15.1)
This memorandum explains the requirements under the Excise Tax Act for retaining and making available records for the purpose of verifying GST/HST charges, remittances and payments. Recordkeeping requirements, records retention, location and access are discussed.
Available at http://www.cra-arc.gc.ca/E/pub/gm/15-1/README.html