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Keeping Proper Records

 

Proper record keeping is essential for any business. CRA expects clear and understandable records to support the reporting of income and expenses. For income tax, the burden of proof in on the taxpayer, not CRA. Additionally, monitoring the performance of your business using financial information such as financial statements begins with proper record keeping. 

 

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Legal Requirements

Request For Early Destruction

What Records To Keep

What Information The Records Must Contain

 

 

CRA guidelines for record keeping can be found HERE.

 

 

 

 

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Keith Anderson, BComm, CA-IT Copyright September 9, 1999 Last Modified :02/14/08 09:36 AM