Downsizing Your CRA Tax Files?

Happy New Year! If one of your resolutions for 2026 is to downsize, or at least sort through all that stuff you don’t need anymore, you may inevitably run across those tax files you’ve been keeping for decades. Just how long do you have to keep them? Do you need permission to destroy them? From whom? Read on to learn more. 

“Everything happens to everybody sooner or later, if there is time enough.” —George Bernard Shaw

It’s undeniable that the financial advisory and insurance industries will face dramatic changes in the upcoming weeks, months and years. Two distinguished speakers at this year’s Distinguished Advisor Conference (DAC) in Kelowna, November 5 – 8, will challenge you to think about two key issues:  people matter in a contentious world and the prescriptive sales process just doesn’t work anymore.

2018 is destined to be a busy season for Canadian tax preparers and financial advisors who will need to be prepared to assist their clients in addressing the many new tax changes. This year’s CE Summits will help you gain a better understanding of the tax changes that have occurred, and those to come for private business owners and their families, and will allow you to hone the technical skills necessary to effectively address them.

Robo-advisor technology can be seen as a threat, or an advantage. Adopting a hybrid approach may help your business. Join the conversation on our Executive Business Builders Network and tell us how you feel you can make robo-technology work for you.

Cathy Mason, of Calgary, on her experience taking the T1 Professional Tax Preparation – Intermediate course:

There are more millionaires in the world than ever, according to Capgemini’s World Wealth Report 2017, and those whose portfolios are overseen by wealth managers achieved robust gains of 24.3 per cent on average — far exceeding benchmark performance.