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Small-business tax checklist
The records to organize for income, expenses, GST/HST, payroll and year-end.
Income records
Every dollar your business earns should be traceable.
- Sales invoices
- Payment processor reports
- Bank deposits
- Any grants or subsidies
Expense records
Keep receipts for anything you claim — the CRA can ask to see them for six years.
- Rent, utilities and phone
- Vehicle logbook and fuel
- Equipment and software
- Advertising and professional fees
- Home-office measurements, if you work from home
GST/HST and payroll
If you're registered for GST/HST or have employees, a few extra records matter.
- GST/HST collected and paid (input tax credits)
- Previous GST/HST returns
- Payroll registers and remittance records
- T4 and T5 slips issued
Year-end
Bank and credit card statements for the full year, loan statements and a list of assets you bought or sold will make year-end smooth and quick.
This guide is general information, not advice for your situation. Contact us to talk it through.