Documents You Should Keep
Income Records
T4 slips (employment income)
T4A, T4E, T5, and other slips for pensions, EI, investment income, or other earnings
Records of self-employment or business income
Expense and Deduction Records
Receipts for medical expenses, childcare, tuition, and charitable donations
RRSP contribution slips
Records of moving expenses, if applicable
Investment Records
Annual statements from financial institutions
Receipts for stock purchases and sales, including transaction costs
Property Records
Records of home or rental property purchases, sales, or major renovations
Mortgage interest statements
Foreign Income and Assets
Documentation of any foreign income or assets if applicable
How Long Should You Keep Documents?
The CRA requires that you keep your tax documents for at least 6 years from the end of the tax year
If the CRA audits or reviews your return, you may need to keep them longer
Tips for Keeping Documents Organized
Store both physical copies and digital copies of your records
Use a secure folder system to categorize documents by year and type (income, expenses, investments, etc.)
Save copies of your tax returns and Notices of Assessment for quick reference
Why This Matters
Proper record-keeping helps ensure you can provide evidence for claims and deductions if requested by the CRA
Having organized records reduces stress and simplifies the tax filing process