Retention Period of Documents

How long must you keep supporting documents?

When we receive your income tax return, we carry out a cursory review and send you a notice of assessment.

We generally have three years from the date of the notice of assessment to carry out a more in-depth review and, if necessary, issue a notice of reassessment (interest is calculated on any balance owing at that time).

You must keep your income tax returns from previous years as well as all supporting documents for three years, as we may ask for them if a review of your return is eventually carried out.

Note

If you carry on a business, you are required to keep your registers, books of account and other supporting documents for at least six years after the taxation year to which they pertain.