Tax wiki
s. 288
PART XX — Reporting Rules for Digital Platform Operators
Due diligence
Not yet annotated · Text current to 2026-06-21 · section last amended 2024-01-01
Current text
A reporting platform operator must complete the due diligence procedures set out in sections 283 to 287 by December 31 of the reportable period.
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
as of January 1, 2024; or
as of the date on which an entity becomes a reporting platform operator.
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
the primary address of the seller has been either collected and verified or confirmed within the last 36 months; and
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.
Source: Justice Laws Website. Not an official version.
Historic text
This section has not been amended since it was enacted (2023, c. 26, s. 78), so there is no earlier version.
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 288 links to the one before it.
Enacting and amending legislation
- 2023, c. 26, s. 78
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 288.