How long do I have to keep my business records?
Generally six years from the end of the last tax year the records relate to — and some corporate records must be kept until two years after the corporation is dissolved.
The base rule: keep business records for six years from the end of the last tax year they relate to. For a corporation with a June year-end, records for that year start their six-year clock at that year-end — so in practice you are often holding seven-plus calendar years of paper or files.
The exceptions that extend it
File a return late and the clock runs from the filing date. Some corporate records — minute books, share registers, certain capital-asset history — should be kept until two years after dissolution. And anything under objection or appeal stays until the dispute ends.
Digital counts
CRA accepts electronic records, provided they are accessible and readable. Bank-feed bookkeeping helps here: the transaction history, categorizations, and reports are all retrievable without a basement of boxes.
This is general information, not tax advice for your situation. Book a call and a Canadian accountant will give you the answer for your business.
Common questions
Can I throw records out early if I close the business?
Not automatically — destroying records early generally requires CRA's written permission, and key corporate records outlive the corporation by two years. Wind-downs deserve an accountant's checklist.
Are photos or scans of documents good enough for CRA?
Generally yes, if they are complete, legible, and producible on request. The standard is that CRA can verify what happened — format matters less than accessibility.