Business Receipts: What is Sufficient?
In a recent Tax Tip, CRA stated that an acceptable receipt for income tax purposes must contain all of the following: the date of the purchase; the name and address of the seller; the name and address of the buyer; the full description of the goods or services purchased; and the vendor’s business number if the vendor is a GST/HST registrant. Credit card statements are not generally acceptable unless they contain all the above information.…
