Canadian Living – September 2019

TIME TYPE OF DOCUMENT TO NOTE

1 MONTH

6 MONTHS

1 YEAR

3 YEARS

6 YEARS

• Non-deductible receipts for items that
  don’t have a warranty


• Deposit and withdrawal receipts (ATM)


• Bank statements

It’s your responsibility to make sure that all of your transactions

have been accounted for, as well as the accuracy of all of the

information pertaining to your account balance before settling

your bills.

• Household appliance repair bills


• Car repair bills

These documents are kept in case of a billing error. The

Consumer Protection Act suggests that these documents

be kept for six months in case a claim needs to be

pursued.

• Telephone bills


• Internet bills


• Cable TV or satellite bills


• Cellphone bills

The contracts of many providers stipulate that it is the client’s

obligation to verify the accuracy of the amount due on their bills.

There is a one-year period, starting from the date of the bill, to

contest any issues pertaining to fees.

• Rent receipts


• Municipal, water, or school tax bills
  and receipts


• Electricity, gas or oil bills


• Health-related expenses


• Sale of house or land contracts


• Revenue declaration documents and
  associated income tax documents


• Loans (mortgages, etc.)


• Pay stubs


• Employment insurance stubs

According to Revenue Canada Tax laws, all documents

relevant to income tax have to be kept for six years.

LIFE & COMMUNITY organizing

4

THE STORAGE

BOX

WHAT: A mini filing system.

WHY: Divide your paperwork

into four categories: to do, to

file, to pay, to read. You can

then do a document sweep

every week or every month.

5

THE LITTLE ARTIST

GALLERY

WHAT: In a frame? Too complicated. Blue

tack? Not aesthetically pleasing. Houle

Morency suggests using a stainless steel

curtain wire instead. “It’s flexible, clean

and ideal to hang artwork. Suspend it

high enough to avoid accidents, and rotate

the art.”

WHY: To display and promote the talents

of your little Picassos-in-the-making. The

Artkive app lets you take photos to docu-

ment artwork that might not be kept, and

the Keepy app lets you also film your kids

explaining the meaning behind their work.

48 | CANADIAN LIVING SEPTEMBER 2019

HOW LONG SHOULD YOU

PAPER TRAILS KEEP THAT DOCUMENT?

DID YOU

KNOW?

80% of the

documents you

file will never be

looked at again.

In reality, we often

keep more than

we need!