Receipt Organization: Building a CRA-Ready System
CRA's 6-Year Retention Rule
The CRA requires taxpayers to keep all records supporting their tax filings for at least 6 years. For landlords, this means every receipt related to your rental property must be retained for 6 years.
Digital vs. Paper Receipts
The CRA accepts digital copies of receipts as long as they are legible and complete. It's recommended to photograph or scan paper receipts promptly, as paper fades and gets lost over time.
Categorize by T776 Line Number
The most effective organization method is sorting by T776 line numbers. For example: insurance → Line 8690, repairs → Line 8960, property taxes → Line 9180. This maps directly to your tax filing — no reorganization needed at year-end.
Best practice: Photograph and categorize every rental expense immediately after payment. Don't wait until year-end — by then you'll have lost or forgotten many receipts.
How AnchorLease Helps
AnchorLease's Receipt Vault stores, categorizes by CRA line number, and retains your receipts for 6+ years — fully searchable and always audit-ready.
This guide is for informational purposes only and does not constitute legal or tax advice. For professional advice, consult a licensed lawyer, paralegal, or accountant.