A folder labelled "old receipts" is not enough information to decide whether its contents can go. The question is the last tax year those documents still support.
Start with the ordinary rule
CRA generally requires records for six years after the end of the last tax year to which they relate. For an ordinary 2026 calendar-year record with no longer retention requirement, that normally means through December 31, 2032. Do not count six years from the purchase date. CRA: keeping records.
Put exceptions in a separate review pile
Keep documents longer when they still establish the cost of property, support a later transaction, or relate to an unresolved objection or appeal. Late-filed returns and a CRA request to retain records can also change the period. An old invoice for equipment still owned is not equivalent to an old stationery receipt. CRA's retention circular explains the exceptions.
Make electronic records usable
Save invoices, ledgers and supporting transaction records in a readable form, with a backup you can actually restore. Switching accounting software should not strand the previous years behind an expired subscription. Electronic records generally need to remain electronically readable. CRA's electronic-record guidance.
A practical folder index has five columns: document category, relevant year, linked asset or dispute, ordinary review date, and reason for any extension. A review date is a reminder to check, not an automatic destruction instruction.
Before discarding originals after scanning, check CRA's imaging requirements and any other legal or business reason to retain them. Keep the completed return and assessment with the supporting year.
Checked October 20, 2026. Missing something already? Start with recovering a business receipt.
