CRA Requirements for Invoices

The CRA’s requirements for invoices depend on the total sale amount.

For sales Under $30, there are 3 pieces of information:
– The name of the business
– The invoice date
– The total amount paid

For sales Between $30 and $149.99, include the above 3 points, plus:
– The total amount of HST/GST charged on the sale
– If the sale has items taxed at different rates, you must show the break-down of the amount of tax at each rate
– The business number of the business issuing the invoice

For sales Over $150, all points above must be included, plus:
– A brief description of the goods or services
– Terms of payment

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Posted on December 13, 2012, in Accounting, Allowable Tax Deductions, Bookkeeping Programs & Information, Canada Revenue Agency, CPP Information, Did you know???, Financials, GST, Links, Reminders, Resources, Tax Time, TFSA. Bookmark the permalink. Leave a comment.

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