Section N – Undertaking to keep books and records
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Section N – Undertaking to keep books and records
You have to complete the undertaking and sign it. If the promoter does not sign the undertaking, we will not issue a tax shelter identification number. The promoter's (or authorized person's) signature must be an original signature for us to process the application.
We will issue a tax shelter identification number only when we receive all the prescribed information, and if we are satisfied with the undertaking to keep the tax shelter's books and records.
Note
An undertaking by a person, who proposes to sell or issue interests in a tax shelter, to keep the requisite books and records at that person's normal place of business in Canada will normally be satisfactory.
An example of an unacceptable undertaking would be if the promoter's place of business is in Toronto, Ontario but the books and records are maintained in Whitehorse, Yukon Territory, as Whitehorse is not the promoter's place of business, even though it is in Canada.
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- Date modified:
- 2016-03-04