Section 294 — Income Tax Act: Record keeping

Every reporting platform operator shall keep, at its place of business or at such other place as may be designated by the Minister, records that it obtains or creates for the purpose of complying with this Part, including records of documentary evidence. Every reporting platform operator required by this Part to keep records that does so electronically shall retain them in an electronically readable format for the retention period referred to in subsection (3). Every reporting platform operator that is required to keep, obtain or create records under this Part shall retain those records for a period of at least six years following the end of the last calendar year in respect of which the record is relevant.