The Canada Revenue Agency is cracking down on what they consider acceptable proof of purchase.  Your bank statement or credit card statement is not sufficient.  Just because your statement shows that you spent $500 at The Future Shop, doesn’t prove bought something for the business.  You need proof of the item purchased and the purpose of the item (if not obvious).  On the flip side, don’t save every coffee receipt from Tim Horton’s.  Being a business owner doesn’t qualify you to write off your coffee breaks.  In fact, the only time meals are truly deductable is when you have had a business lunch or dinner and have paid for someone else.  And even then, it is only deductable at 50%.