Keeping daycare records

You have to keep in your records documents that support your daycare income and expenses. These documents can be:

• bills
• receipts
• bank statements
• cancelled cheques

Your records should be complete and organized by year.

Good records will help you prepare your income tax and benefit return. They can remind you of expenses you might otherwise overlook. Good records can also prevent problems during a review of your returns.

Do not send your records with your income tax return. However, do keep them in case we ask to see them at a later date.

For more information, go to Keeping records.

Forms and publications

• Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income
• Form T137, Request for Destruction of Records
• Information Circular IC05-1, Electronic Record Keeping
• Information Circular IC78-10, Books and Records Retention/Destruction

Related link

• Business records