What information should be on a business expense receipt

When you buy something for your business, you should always get receipts or other vouchers. To be eligible for tax deduction, the receipt for the merchandise or services you buy should show the following information:

  • the date of the purchase;
  • the name and address of the seller or supplier;
  • the name and address of the buyers;
  • a full description of the goods or services; and
  • the vendor's business number if they are a GST/HST registrant

For how long do I have to keep my records?

How tax returns are selected for audit?

 

Additional information