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Question: I live in Canada and moving and need to know how many years of tax information do I need to keep?

I have boxes of receipts re small business and need the information as to how many years back is needed for auditing purposes is it 7 or 5 years back?
Thanking you in advance.

Answer: You are supposed to keep six years, I always keep 10 just in case, but that is just me.

http://www.cra-arc.gc.ca/tax/individuals/topics/income-tax/keeping/menu-e.html

http://www.cra-arc.gc.ca/tax/business/sme/menu-e.html

Where are you moving to??? Check out that country’s Revenue web site as well for future reference.

Hope that helps.

CORRECTION FROM SOURCE/Canada Revenue Agency: Come to us, Before we go to you

ONTARIO, OTTAWA–(Marketwire – 01/19/10) – A correction from source is being issued with respect to the release sent out on Monday January 11, 2009 at 2:04 PM ET. The corrected version follows. The Canada Revenue Agency (CRA) wants to make you aware of the Voluntary Disclosures Programs (VDP) as we move forward to aggressively address non-compliance internationally and domestically. For example …

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