News and Insights

Revised CRA Guide RC4409, “Keeping Records”

Tax Development Jan 30, 2012

The Canada Revenue Agency released revised Guide RC4409 on January 27, 2012.  This publication explains the requirement for businesses to maintain appropriate business records under various statutes, including the Excise Tax Act — the law that governs GST/HST in Canada.   

A section was added to the GST/HST chapter related to disclosing the HST point-of-sale rebates, including the Ontario point-of-sale rebate for First Nations, on invoices or receipts to customers.  In particular, when indicating the HST point-of-sale rebate on sales to customers, businesses may show: 

  • the total amount of the HST payable or the total HST rate;
  • the total HST payable as an amount net of the rebate amount paid or credited; or 
  • the total price of the qualifying item that includes HST at a net rate of 5%.  

Several other minor revisions were also made to the guide from its previous 2009 version.

CRA RC4409