Keeping daycare records

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

• Invoices;
• bills;
• receipts;
• bank statements; and
• cancelled cheques.

Your records should be complete and organized by year.

Keeping good records will reduce the time you spend preparing your income tax and benefit return, as well as help prevent problems if you are selected for an audit.

Do not send us your records with your return, but keep them in case we ask to see them later.

For more information, go to Keeping records.

Forms and publications

• Guide T4002, Business and Professional Income
• Booklet P134, Using Your Home for Daycare
• Form T137, Request for Destruction of Records
• Information Circular IC05-1R1, Electronic Record Keeping
• Information Circular IC78-10R5, Books and Records Retention/Destruction

Related topics

• Business records
• Keeping records

Multimedia

• Video series: Reporting Business Income and Expenses

Date modified:

2017-01-03