Tips on Minimizing Paper-Article Summary
For Full Article, visit http://blog.spacestyle.ca/minimizing-paper/ where our new blog has moved to…
Tip #1: Don’t hang on to documents for longer than you need to
If you keep all of the paper that comes into your home, and pile it up until you are overwhelmed, the good news is you don’t need to! When it comes to documents relating to income tax reporting, you only need to keep records for a minimum of six years from the end of the last tax year. What I do is keep 7 years just in case. There may be some exceptions (e.g. paperwork related to the sale of a property), so be sure to read the information at the link below, and contact a professional if you are unsure.
For official government guidelines on how long you are required to keep your records, go to the following links: http://www.cra-arc.gc.ca/E/pub/tp/ic78-10r5/README.html
For more tips on how to minimize paper, please read the full article at http://blog.spacestyle.ca/minimizing-paper/.
Have a question? Feel free to contact me at info@SpaceStyle.ca, or suggest a topic for a blog post.