AUDIT TRIGGERS
Why me? Sometimes it's just random, but often it’s because something looks weird compared to last year. Sudden huge charitable donations or massive business losses usually wave a red flag!
Learn More →CRA REVIEWS AND DOCUMENTATION
Wait, did I actually save that receipt? Dealing with the Canada Revenue Agency (CRA) feels like a mystery at first, but it’s mostly about keeping your ducks in a row. I’m figuring out how to survive a review without losing my mind!
THE 6-YEAR STORAGE RULE
I just found out that the CRA can ask for proof for up to six years! Six years? That is a lot of paper. I started by throwing everything into a shoe box, but that’s a nightmare. Now, I’m scanning every single receipt for medical expenses or moving costs immediately. Digital copies are totally okay, as long as they are clear and readable.
It’s not just about the tax return itself, but the supporting documents. If you claimed RRSP deductions, you need those official receipts from your bank. If you don't have them when they ask, they might just take the money back! Ouch.
NOTICE OF ASSESSMENT
This is the golden ticket! Once you file, the CRA sends this back. It tells you if they agree with your math. Check it carefully! It also lists your RRSP limit for next year.
Credits List →MISTAKES TO AVOID
The biggest mistake? Not updating your address! If the CRA sends a letter and you don't answer because you moved, they will just reassess you and send a bill. Always keep My Account updated!
Start Over →
BY THE NUMBERS
6 YRS Record Keeping
30 DAYS Response Time
Did you know? Most "audits" are actually just "reviews" where they want to see one specific receipt. It’s not as scary as it sounds if you are prepared!
READY TO ORGANIZE?
I'm still learning, but keeping organized is the best way to keep the stress down. Start your digital archive today!
How to File The information on this page is a summary of personal learning and publicly available CRA data for general education.
These materials serve as a reference guide only and do not constitute professional tax or financial recommendations.
Always verify your specific situation with a certified tax accountant or directly via the Canada Revenue Agency website.