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Good mornings ladies!
I was just wondering what the policy is in terms on issuing tax receipts. I have a clients insisting on my getting my SIN number. From what I have learned from local providers a receipts booklets works just fine. I have never had an issue but this family is really wants the SIN number.
Should I just give it them or no?
Ps I am in Ontario :)
Go online and register for a BIN. You get the number right away and you use that on your receipts
I gave mine as I trusted my families and only give one receipt for the year. I believe you can attempt to not give it by just noting contact info for a tax audit person to contact you should they question it. But I think technically you are supposed to give it.
On the childcare deduction form that parents fill out for their income taxes, it does ask for either the childcare organization or the name and SIN for the childcare provider. Maybe this is why they are asking for it? Many people just write the name of their childcare provider and don't include the SIN and no questions are ever asked. But I suppose if they were audited, they would need this info.
http://www.cra-arc.gc.ca/E/pbg/tf/t778/t778-15e.pdf
I got a business number when I registered my business name. I use that on all receipts. I have had 3 families over the years get audited and have called for my SIN. I give it out (that was before I had my business no. On my receipt).
I've used 2 different accountants (one was a hdcp herself) and both said it's fine to only give it if requested if a parent gets audited. I just tell all my clients to give my contact info to their accountants and if they want it, they can call me and I'll give it than :)
For security reasons, I don't like my SIN to be on their receipts in case it gets lost/misplaced. My current accountant said that is reasonable
Apply for a business identification number online. It used to be about $60, and allows you to register your business name, and it's good for 5 years. I put the BIN on my once a year receipt, and it will cross-reference to you and your contact info if searched by CRA.
The CRA booklet page 22
http://www.cra-arc.gc.ca/E/pub/tg/p134/p134-14e.pdf