For tax return purposes, use the following list as a guide to know which receipts you should keep/store:

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• Interest Paid on Student Loans
• RRSP Contribution Slips
• Moving Expenses
• Charitable Donation Receipts
• Political Donations Receipts
• Rent/Property Tax Receipts
• Medical Expenses
• Adoption Expenses
• Child Support Receipts
• Alimony Payments
• Support for a Child, Spouse, or Common-Law Partner
• Home office Expenses
• Tool Expenses (for trade-persons)
• Professional or Union Dues
• Carrying Charges and Interest Expenses

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Staying on top of your tax return starts with good organization. Get into the habit of storing your receipts properly and you’ll be ahead of the game come next tax year.

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Other items to consider keeping, especially if you own a business:

• sales invoices
• cash register tapes
• receipts
• bank deposit slips
• fee statements
• contracts

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Always get receipts when you purchase something for your business that you wish to claim as a business expense with the CRA.

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The receipts have to show the following:

• the date of the purchase
• the name and address of the seller or supplier
• the name and address of the buyer
• a full description of the goods or services
• the vendor’s business number if they are a GST/HST registrant

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