Records of the collection and payment of taxes and duties levied by various levels of government.
Responsible Unit | Information Steward | Information Confidentiality Classification | Retention | Disposition | Authority | Retention Rationale | Version Information
Content & Scope
The records include charitable tax returns, tax statements, declarations or recoveries of taxes for goods and services, excise tax remittances and exemptions, customs documentation, brokerage and traffic invoices, and year end reports.
Responsible Unit
Finance.
Information Steward
Vice President, Administration & Finance.
Information Confidentiality Classification
Confidential.
Retention
7 years.
Disposition
Secure Destruction.
Note
Responsible Units should document the disposal/destruction of official records using the University records destruction form or equivalent documentation, to verify that we are following our records retention rules.
Authority
- Income Tax Act, 1985, s.230 (4)(b).
- Excise Act, 2001 s.206.
- Excise Tax Act, 1985, s.286 (3).
Retention Rationale
Income Tax Act, 1985, s. 230 (4) (b) specifies that records be kept for 6 years after the taxation year to which they relate. The Excise Act and Excise Tax Act have similar requirements for records relating to excise taxes and GST.
Approval Date
14 April 2010