--- title: "How Long Should You Keep Tax Records in Canada?" id: "14999" type: "post" slug: "how-long-should-you-keep-tax-records-in-canada" published_at: "2026-07-30T13:37:17+00:00" modified_at: "2026-07-30T13:37:20+00:00" url: "https://taxccount.com/blog/how-long-should-you-keep-tax-records-in-canada/" markdown_url: "https://taxccount.com/blog/how-long-should-you-keep-tax-records-in-canada.md" excerpt: "Once tax season is over, it is tempting to shred the mountain of slips and receipts cluttering your desk. However, before you do, it is essential to know the Canada Revenue Agency (CRA) rules on record retention. Keeping organized records..." taxonomy_category: - "Taxccount" --- [Taxccount](https://taxccount.com/blog/category/taxccount/) [July 30, 2026](https://taxccount.com/blog/2026/07/) # How Long Should You Keep Tax Records in Canada? Once tax season is over, it is tempting to shred the mountain of slips and receipts cluttering your desk. However, before you do, it is essential to know the Canada Revenue Agency (CRA) rules on record retention. Keeping organized records not only protects you during an audit but also helps you track your financial progress over time. Taxccount Canada helps individuals searching for tax filing near me understand how long tax records should be retained to remain compliant with CRA requirements. --- Table of Contents [Toggle](#) ## The General Rule: Six Years For most Canadians, the rule is straightforward: you must keep your tax records for six years from the end of the last tax year to which they relate. For example, records supporting your 2023 income tax return should generally be kept until the end of 2029. This six-year rule applies to both individuals and business owners and covers the documents the CRA may require to verify your income, deductions, credits, and other tax information. Professional tax return filing services can help identify which records should be retained for future reference. --- ## Keep Records Organized [☎️ Get Help](https://taxccount.com/book-a-consultation/) ## What Records Do You Need to Keep? You should retain any documents that support the information reported on your tax return, including: ### Income Records - T4 slips - T5 slips - T3 slips - Records of self-employment income - Other income documents ### Deduction and Credit Receipts - Medical expense receipts - Charitable donation receipts - RRSP contribution receipts - Moving expense receipts - Childcare expense records - Tuition receipts and tax slips ### Business Records - Sales invoices - Purchase invoices - Business expense receipts - Bank and credit card statements - Accounting records ### Property and Investment Records Keep documents relating to the purchase, improvement, and sale of real estate or investments, as these records are often required long after the original purchase. ### CRA Documents Retain your: - Notice of Assessment (NOA) - Notices of Reassessment - CRA correspondence - Supporting schedules and calculations An accountant for taxes can advise you if additional records should be maintained for your specific circumstances. --- ## Record-Keeping for Business Owners and Self-Employed Individuals If you operate a business, the CRA requires more detailed records. These commonly include: - GST/HST returns and supporting records - Payroll records - Contracts and agreements - Inventory records - Financial statements - Accounting ledgers - Bank records Generally, business records must also be retained for at least six years. If you wish to destroy business records before the required retention period, you may need written authorization from the CRA. Tax and [accounting services](https://taxccount.com/accounting-and-business-related-services-in-canada/) can help establish an organized record-keeping system for your business. --- ## Can You Keep Digital Records? Yes. The CRA accepts electronic records provided they are complete, accurate, readable, and accessible throughout the required retention period. Good digital record-keeping practices include: - Scanning paper receipts shortly after receiving them. - Saving files in secure cloud storage or external backups. - Using clear and consistent file names. - Organizing records by tax year and document type. Income tax preparation near me services often recommend maintaining both secure backups and organized digital folders to simplify future tax filings. --- ## When Should You Keep Records Longer? Certain records should be kept beyond the standard six-year period. ### Capital Property Maintain records relating to the purchase price, legal fees, capital improvements, and sale of real estate or investments until at least six years after the asset is sold. ### Unfiled Tax Returns If you have not filed a return for a particular year, the retention period generally does not begin until that return has been filed. ### CRA Reviews, Audits, or Appeals If the CRA is reviewing, auditing, or appealing one of your tax returns, keep all related documents until the matter has been fully resolved, even if this extends beyond six years. Tax accountants can advise you on whether additional documentation should be retained during a CRA review. --- ## Why Good Record-Keeping Matters Keeping complete tax records can help you: - Support deductions and tax credits claimed. - Respond quickly to CRA reviews or audits. - Prepare future tax returns more efficiently. - Track business income and expenses accurately. - Maintain compliance with CRA record-retention requirements. A tax accountant near me can also assist in creating a record management system that makes future tax filing faster and more organized. --- ## Table of Summary Here is the blog information in **6 easy rows** for quick understanding: | Section | Easy Information | | --- | --- | | 1. Topic | The blog explains how long Canadians should keep tax records and CRA requirements for maintaining proper documentation. | | 2. General Retention Rule | Most individuals and businesses must keep tax records for six years from the end of the tax year they relate to (for example, 2023 tax records should generally be kept until the end of 2029). | | 3. Records to Keep | Maintain income slips (T4, T5, T3), self-employment records, receipts for deductions/credits, business invoices, bank statements, investment/property records, CRA notices, and correspondence. | | 4. Business & Digital Records | Business owners should retain GST/HST records, payroll records, contracts, inventory records, financial statements, and accounting ledgers. Digital records are acceptable if they are complete, readable, secure, and accessible. | | 5. Records to Keep Longer | Keep capital property records until at least six years after selling the asset. Keep records longer for unfiled returns, CRA audits, reviews, or appeals until the matter is resolved. | | 6. Importance of Record Keeping | Proper records help support deductions and credits, respond to CRA reviews, prepare future returns, track finances, and maintain CRA compliance. | ## FAQs ### How Long Do I Have to Keep Tax Records in Canada? In most cases, you must keep tax records for six years from the end of the last tax year to which they relate. --- ### Can I Throw Away Paper Receipts If I Scan Them? Yes. The CRA generally accepts digital copies provided they are accurate, complete, readable, and retained throughout the required record-keeping period. --- ### How Long Should I Keep Records for My Home or Investments? Records relating to capital property should generally be kept until at least six years after the property or investment has been sold. --- ### Do Business Owners Have Different Record-Keeping Requirements? Yes. Businesses must maintain detailed accounting, payroll, GST/HST, and supporting financial records, generally for a minimum of six years. --- ### What Happens If I Cannot Provide Records During a CRA Review? Without supporting documentation, the CRA may deny deductions, reassess your return, or request additional information. Maintaining organized records helps support the amounts reported on your tax return. ## Stay CRA Compliant [☎️ Get Help](https://taxccount.com/book-a-consultation/) This is general information only and not professional advice. Consult a professional before acting. ##### Written and fact-checked by [Udit Gupta](https://taxccount.com/author-bio/) ***Ex Big4, Ernst & Young, Deloitte | International & Cross-Border Tax Specialist | CPA Canada In Depth Tax Training | Licensed Chartered Accountant from ICAI & MIA*** Udit Gupta has over 15 years of experience helping corporations & business owners with corporate structuring, corporate tax filing, bookkeeping, payroll, GST/HST, cross-border tax and CRA representation. Big 4 trained at Ernst & Young and Deloitte, and qualified as a Chartered Accountant in India and Malaysia, he founded accounting firm in 2014 to serve entrepreneurs, startups and non-resident business owners across Canada. [View Full Member Bio.](https://taxccount.com/author-bio/) **Indian Institute of Chartered Accountant Member No. (521458) | Malaysian Institute of Accountants Membership number (CA 44667) | Ex Big4,Ex Ernst & Young (EY), Ex-Deloitte | CPA Canada In-Depth Tax Training 19 Dec 2023, 12 Jul 2022, 5 Jul 2023** **Editorial policy. 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