How long should Canadian taxpayers keep their tax records? While many people believe the answer to be six years, Adrienne Woodyard cautions that "the question of what to dispose of, and when, is more complex than it appears" in the March 18, 2016 issue of The Lawyers Weekly. She goes on to identify situations where shredding records too soon could lead to penalties by the Canada Revenue Agency. It is therefore crucial for individuals and businesses to establish proper tax record retention practices.
Read the full article here (made available through AdvocateDaily.com)