Taxes and Bookkeeping guide

Keep rental records that explain the number

CRA says records must contain enough detail to determine tax obligations and entitlements and generally be kept for six years from the end of the last tax year they relate to, subject to its detailed exceptions.

Published
Reviewed
Jurisdiction
Canada, provincial and territorial tenancy rules vary
Next review

Income support

  • Lease and rent schedule.
  • Charge and payment ledger.
  • Bank or payment evidence.
  • Rent receipts and adjustments.
  • Other rental income and reimbursements.

Expense support

  • Invoice or receipt.
  • Payment evidence.
  • Date, vendor, amount, property, and business purpose.
  • Allocation method for shared or mixed-use amounts.
  • Maintenance record or contract where it explains the cost.

Keep the review trail

Preserve filed returns, T776 workpapers, notices of assessment or reassessment, correspondence, CCA schedules, and the source calculations used for allocations. Ask CRA or a tax professional before destroying records early or when an exception may extend the period.

Sources

  1. Canada Revenue Agency: Keeping Records (accessed 2026-07-25)

Authored by DwellTrack Editorial Team. Review owner: Tax-content review required.

Related DwellTrack Resources

T776 GuideUnderstand the statement structure.Document ManagementBuild retention and deletion into the filing system.T776 Tax HelperReview DwellTrack's summary workflow.

Prepare a cleaner workpaper from the source record.

See how DwellTrack organizes rental income, expenses, and exports.

Explore T776 records