No receipts. Can I claim expenses?
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No receipts. Can I claim expenses?

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This topic contains 1 reply, has 1 voice, and was last updated by Avatar of Robert Robert 6 years, 5 months ago.

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  • #5065
    Avatar of Robert
    Robert
    Member

    We have a question from a client:    
     
    I incurred business expenses that I no longer have the receipts for. Can I claim these on my income tax?

    #5066
    Avatar of Robert
    Robert
    Member

    Reporting information for tax purposes without supporting documentation exposes you to fees and penalties (and possibly, legal action) should you end up being subject to an audit by the Canada Revenue Agency. Typically, you may be subject to an audit for a return filed as far as three years back. However, if it is found that an error or omission was made out of neglect, carelessness or willful default, the CRA can go back as far as possible. At the same time, if you can offer some other proof to support business expenses, you can still make a claim, but at your own risk.

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