Taxes… not the most exciting topic – we know!
However, if you live and work in Canada, you have to pay them!
You should know that if you pay tax in Canada, you must keep your Canadian tax records for some time after the end of the tax year.
This even applies if you are on a working holiday in Canada and move home when your visa expires.
In this guide, we will explain why you need to keep your tax records in Canada and help you to ensure you keep your tax records for the right period of time.
So…let’s get started!
How long do you have to keep tax records in Canada?
You must keep your Canadian tax records for six years. You must keep your records from the end of the last tax year that you filed a Canadian tax return for.
For example, if you file a tax return for the 2021 tax year, your tax records must be kept until the end of the 2027 tax year.