Keeping Documents

[KarenBiko]

Help! I`m swimming in paper. I`m sure someone has asked this question before, but I just can`t seem to find the answer. I am purging my file cabinets and creating space for all the stuff we will be doing in 2010. I understand the time requirements of keeping financial papers and receipts, things like that, but how long am I supposed to hang on to old tenant leases?

Nothing like starting off the new year all cleaned up and ready to go.

 

[brentdavies]

Don`t know what province you are in, but in Alberta, past tenant information must be kept for 3 years.

Tax receipts etc, for 7 years.

Try to take over closet in the basement and use banker boxes to store files.

Cheers

 

[KarenBiko]

QUOTE (brentdavies @ Jan 5 2010, 03:48 PM) Don`t know what province you are in, but in Alberta, past tenant information must be kept for 3 years.

Tax receipts etc, for 7 years.

Try to take over closet in the basement and use banker boxes to store files.

Cheers


Thanks Brent, that`s exactly the info. that I needed. I don`t have the basement storage closet...but I do have a storage garage for old files. Now I can happily purge...I`m in Alberta...you know my husband Bill.

 

[Albertritchot]

The requirements for Canada Revenue Agency (the tax guys) are described in the links below.


http://www.cra-arc.gc.ca/tx/bsnss/tpcs/kprc/menu-eng.html


The destruction of documents rules are described in this link.

http://www.cra-arc.gc.ca/E/pub/tp/ic78-10r4/README.html

Forms must be kept for a period of 6 years based on # 26.