After Tax Season: Keeping your Tax Documents

by in Tax Advice Information and Updates
After Tax Season: Keeping your Tax Documents
Last week, we did a blog focusing on tax planning – reminding everyone to start setting up a tax plan as early in the year as possible.  One of first steps in making sure you have a stress-free tax season next year is keeping your tax documents organized.  

After the tax season is the perfect time to start a good filing system for previous years’ tax documents as well as for this year’s.  You can base your filing system according to our list of tax documents needed for you to file an income tax return.

1.    Prior year notice of assessment
2.    T-slips such as T3, T4, T4A, etc.
3.    Donation receipts
4.    RRSP slips
5.    Medical receipts
6.    Childcare receipts
7.    Transit passes
8.    Capital Gains/Losses and Associated Fees
9.    T2200
10. T2202A
11. Business income and expenses or Corporate wages
12. Interest on $ borrowed to invest (statements or amounts)
13. Other investments
14. First Time Home Buyer
15. Installments

You can take it a step further by organizing by year.  Keep these documents in one place or in one cabinet to make it easier for you to access for next year’s tax filing season. 
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