Adequate records have to be kept by individuals, partnerships, corporations, and trusts, as identified below:
- persons carrying on a business or engaged in commercial activity;
- persons required to pay or collect taxes or other amounts such as payroll deductions and goods and services tax/harmonized sales tax (GST/HST) under the Income Tax Act, the Excise Tax Act, the Excise Act 2001, the Employment Insurance Act, the Canada Pension Plan, and the Air Travellers Security Charge Act;
- persons required to file an income tax or GST/HST return;
- persons who apply for GST/HST rebates or refunds;
- payroll service providers;
- trusts;
- non-profit organizations;
- registered charities;
- registered Canadian amateur athletic associations;
- a registered agent of a registered political party;
- an official agent for a candidate in a federal election;
- universities;
- colleges;
- municipal corporations;
- hospitals; and
- school authorities.
