Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.))

Marginal note:Excluded seller

• 283 (1) For the purpose of determining whether a seller is an excluded seller under paragraph (a) or (d) of that definition in subsection 282(1), a reporting platform operator may rely on its available records.

• Marginal note:Excluded seller – entity

  (2) For the purpose of determining whether a seller that is an entity is an excluded seller under paragraph (b) or (c) of that definition in subsection 282(1), a reporting platform operator may rely on publicly available information or a confirmation from the seller.

Marginal note:Seller information – individual

• 284 (1) The reporting platform operator must collect the following information for each seller that is an individual (other than a trust) and that is not an excluded seller

  • (a) the first and last name of the individual;

  • (b) the primary address of the individual;

  • (c) the TIN issued to the individual, including the jurisdiction of issuance; and

  • (d) the date of birth of the individual.

• Marginal note:Seller information – entity

  (2) The reporting platform operator must collect the following information for each seller (other than a seller described in subsection (1)) that is not an excluded seller

  • (a) the legal name of the entity;

  • (b) the primary address of the entity;

  • (c) the TIN issued to the entity, including the jurisdiction of issuance; and

  • (d) the business registration number of the entity.

• Marginal note:Government verification services

  (3) Notwithstanding subsections (1) and (2), the reporting platform operator is not required to collect information pursuant to paragraphs (1)(b) to (d) or (2)(b) to (d) in respect of a seller where the reporting platform operator relies on a government verification service to ascertain the identity and residence of the seller.

• Marginal note:TIN collection

  (4) Notwithstanding paragraphs (1)(c) and (2)(c) and (d), the TIN or the business registration number, respectively, are not required to be collected if

  • (a) the jurisdiction of residence of the seller does not issue a TIN or business registration number to the seller; or

  • (b) the jurisdiction of residence of the seller does not require the collection of the TIN issued to such seller.

Marginal note:Verification of seller information

• 285 (1) The reporting platform operator must determine whether the information collected under subsection 283(2) and sections 284 and 287 is reliable, using all records available to the reporting platform operator, as well as any publicly available electronic interface to ascertain the validity of the TIN.

• Marginal note:Due diligence

  (2) Notwithstanding subsection (1), for the completion of the due diligence procedures pursuant to subsection 288(2), the reporting platform operator may determine whether the information collected pursuant to subsection 283(2) and sections 284 and 287 is reliable using electronically searchable records available to the reporting platform operator.

• Marginal note:Verifying accuracy

  (3) For the purpose of paragraph 288(3)(b), despite subsections (1) and (2), in instances where the reporting platform operator has reason to know that any of the information items described in section 284 or 287 may be inaccurate by virtue of information provided by the Minister, it must verify such information item using reliable, independent-source documents, data or information.

Marginal note:Residence

• 286 (1) A reporting platform operator must consider a seller resident in the jurisdiction of the seller’s primary address.

• Marginal note:Government verification service

  (2) Notwithstanding subsection (1), a reporting platform operator must consider a seller resident in each jurisdiction confirmed by a government verification service pursuant to subsection 284(3).

Marginal note:Rented immovable property

287 Where a seller provides relevant services for the rental of immovable property, the reporting platform operator must collect the address of each property listing.

Marginal note:Due diligence

• 288 (1) A reporting platform operator must complete the due diligence procedures set out in sections 283 to 287 by December 31 of the reportable period.

• Marginal note:Previously registered accounts

  (2) Despite subsection (1), the due diligence procedures set out in sections 283 to 287 are required to be completed by December 31 of the second reportable period of the reporting platform operator, for sellers that are already registered on the platform

  • (a) as of January 1, 2024; or

  • (b) as of the date on which an entity becomes a reporting platform operator.

• Marginal note:Previous due diligence

  (3) Notwithstanding subsection (1), a reporting platform operator may rely on the due diligence procedures conducted in respect of previous reportable periods, provided

  • (a) the primary address of the seller has been either collected and verified or confirmed within the last 36 months; and

  • (b) the reporting platform operator does not have reason to know that the information collected pursuant to sections 283, 284 and 287 is or has become unreliable or incorrect.

Marginal note:Active sellers

289 A reporting platform operator may elect to complete the due diligence procedures under sections 283 to 288 in respect of active sellers only.

Marginal note:Due diligence by third parties

• 290 (1) A reporting platform operator may rely on a third-party service provider to fulfil the due diligence obligations under sections 291 and 292, but such obligations remain the responsibility of the reporting platform operator.

• Marginal note:Partner jurisdiction

  (2) When a platform operator fulfils the due diligence obligations for a reporting platform operator with respect to the same platform under subsection (1), such platform operator may carry out the due diligence procedures pursuant to substantially similar rules in its partner jurisdiction.

Marginal note:Reporting to Minister

• 291 (1) A reporting platform operator must report to the Minister the information set out in section 292 with respect to the reportable period no later than January 31 of the year following the calendar year in which the seller is identified as a reportable seller.

• Marginal note:Reporting to seller

  (2) A reporting platform operator must provide the information set out under section 292 to the reportable seller to which it relates no later than January 31 of the year following the calendar year in which the seller is identified as a reportable seller.

• Marginal note:Reporting not required

  (3) Notwithstanding subsections (1) and (2), the information in relation to a reportable seller is neither required to be reported to the Minister nor to be made available to the reportable seller in circumstances where the reporting platform operator has obtained adequate assurances that another platform operator has or will fulfil the reporting obligations under this section and section 292

  • (a) with respect to the reportable seller pursuant to the rules in Canada; or

  • (b) with respect to the reportable seller, other than a reportable seller resident in Canada, under substantially similar rules in a partner jurisdiction.

• Marginal note:Reporting

  (4) A reporting platform operator required to report information under this section shall report the information in prescribed form.

• Marginal note:Electronic filing

  (5) Information required to be reported under this section shall be filed by way of electronic filing.

• Marginal note:Currency

  (6) The information with respect to the consideration paid or credited in a fiat currency must be reported in the currency in which it was paid or credited. In case the consideration was paid or credited in a form other than fiat currency, it should be reported in the local currency of Canada, converted or valued in a manner that is determined consistently by the reporting platform operator.

• Marginal note:Reporting in respect of quarter

  (7) The information with respect to the consideration and other amounts must be reported in respect of the quarter in which the consideration was paid or credited.

Marginal note:Information reported

292 Each reporting platform operator must report the following information:

• (a) the name, registered office address and TIN of the reporting platform operator, as well as any business names of any platforms in respect of which the reporting platform operator is reporting;

• (b) with respect to each reportable seller that provided relevant services (other than immovable property rental), rented out a means of transportation or sold goods,

  • (i) the items required to be collected pursuant to section 284,

  • (ii) any other TIN, including the jurisdiction of issuance, available to the reporting platform operator,

  • (iii) any financial account identifiers, insofar as they are available to the reporting platform operator and the jurisdiction of the reportable seller’s residence is specified by the Minister,

  • (iv) if different from the name of the reportable seller, the name of the holder of the financial account to which the consideration is paid or credited, to the extent available to the reporting platform operator, as well as any other identifying information available to the reporting platform operator with respect to that account holder,

  • (v) each jurisdiction in which the reportable seller is resident on the basis of the procedures set out in section 286,

  • (vi) the total consideration paid or credited during each quarter of the reportable period and the number of such relevant activities in respect of which it was paid or credited, and

  • (vii) any fees, commissions or taxes withheld or charged by the reporting platform operator during each quarter of the reportable period; and

• (c) with respect to each reportable seller that provided relevant services for the rental of immovable property,

  • (i) the items required to be collected pursuant to section 284,

  • (ii) any other TIN, including the jurisdiction of issuance, available to the reporting platform operator,

  • (iii) any financial account identifiers, insofar as they are available to the reporting platform operator and either the jurisdiction of residence of the reportable seller or the jurisdiction in which the immovable property is located is specified by the Minister,

  • (iv) if different from the name of the reportable seller, the name of the holder of the financial account to which the consideration is paid or credited, to the extent available to the reporting platform operator, as well as any other identifying information available to the reporting platform operator with respect to the account holder,

  • (v) each jurisdiction in which the reportable seller is resident on the basis of the procedures set out in section 286,

  • (vi) the address of each property listing, determined on the basis of the procedures set out in section 287, and, if available, the land registration number,

  • (vii) the total consideration paid or credited during each quarter of the reportable period and the number of such relevant services provided with respect to each property listing in respect of which it was paid or credited,

  • (viii) any fees, commissions or taxes withheld or charged by the reporting platform operator during each quarter of the reportable period, and

  • (ix) if available, the number of days each property listing was rented during the reportable period and the type of each property listing.