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Audit Requests

Have you received any letter from Revenue Canada asking you to provide certain documentary evidence for payment of an expense you claimed on your 2003 income tax return? Donít panic. Number of such requests over the last few years has increased substantially.

Donít worry. When you receive such a notice, first thing you do is Sit Down and Take 3 Deep Breaths Ė then read it again and try to understand what they are requesting. Send them the receipts they are requesting, returning with the letter from Revenue Canada. If you have difficulty understanding these letters, contact us immediately. You must respond within 30 days, otherwise they will re-assess you and ask for more tax money to be sent to them.

CRA reserves the right of inspecting any document(s) for a tax year within THREE YEARS FROM THE DATE OF ASSESSMENT NOTICE. So please, keep all receipts and records in a safe place for at least FOUR years, just in case.

During the last year, the most common items that were requested by CRA included receipts for:

  • RRSP

  • Tuition & Education Amount (and interest paid)

  • Childcare Expenses

  • Donations

  • Carrying Charges

The above is for your information only. For specific reference, please consult Income Tax Act. E&OE

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Last modified: 03/01/07