How long should you keep your tax files?

Large stack of paperwork and files with calculator. An assortment of files and booklets and paper in an in tray on a desk. There is also an adding machine calculator. There are no people. Stress, overwork and finance concept.

Clients often ask us how long do they have to keep old files and documents.  Generally, CRA is able to reassess during a four year period after they issue a Notice of Assessment.  CRA’s guidelines, however, recommend that documents be kept for seven years. In spite of this, a recent Tax Court ...

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