CRA 3rd Party Requests for Info - Square Canada Inc. will send some client info to CRA per Federal Court Order.

On March 30, 2017 Square Canada Inc. sent a message to its affected users noting that they would be providing certain pieces of information to CRA pursuant to a Federal Court Order. The Company provides Square Reader, a popular small square-shaped tool that connects to the headset jack of a mobile device in order to collect payment via credit card.

The Order requires the following information in regards to sellers that have processed more than $20,000 during any of the calendar years 2012-2015, or January 1, 2016 through April 30, 2016:

  • The names and addresses associated with the account.
  • The associated financial institutions, transit numbers, and account numbers.
  • The number of Square Readers and Stands linked to the account.
  • The total monthly aggregate of transactional information between the seller and the customer.
  • The number of employee permissions granted through employee/location management functionality.

For further information see Video Tax News Monthly Tax Update Newsletter, Issue No. 429