Keep Your Supporting Documents!

Supporting documents for your tax return should be retained for at least six years after the end of the year to which it relates. But this assumes that you have been filing on time – if you are six years late in filing, you should not destroy your supporting documents immediately after filing! If CRA requests to examine them and they are not available at the time of examination, the amounts claimed will likely be disallowed. Keep them for six years after the related return has been assessed.