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Important Information for Canadian Business Owners and Associations: Canada Revenue Agency’s Guidance on Keeping Records

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If you are running a business or are engaged in any commercial activity whereby you have to pay or collect taxes in Canada, you are bound by the Canada Revenue Agency’s (CRA) record keeping policies. Non-profit organizations, universities, colleges, registered charities and hospitals are also among the list of organizations that must abide by these regulations. Is your record keeping compliant with CRA’s rules? If you use GridWay’s Data Centre to backup and store your data, then you are compliant.

On page 7 of CRA’s Keeping Records (RC4409(E)Rev.13) the Canada Revenue Agency (CRA) expressly states that records must be kept at your place of business or at your residence in Canada, unless the CRA has given you permission to maintain them elsewhere. When contracting a third party to maintain electronic copies, you are responsible for ensuring that they are available to the CRA officials upon request. GridWay’s Data Centre is located in the Nation’s Capital and is 100% Canadian owned and operated.

Backing up and storing your financial data in our Data Centre through a secure private connection ensures that you are following the CRA’s regulations and that your organization is fully compliant. Read CRA’s Keeping Records document.

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