TAX · PUBLISHED 23 SEPTEMBER 2026
Keeping records for tax claims
A sound tax return begins with records that show what happened, when, and why an expense relates to earning income.
Start with the transaction
Keep invoices, receipts, statements and other evidence of income and expenses. Where an expense has both private and business or work use, retain the basis for the portion claimed. Reconcile records to your accounts before preparing a return.
Review before you lodge
Check that amounts are recorded in the correct income year and that supporting documents are available. Different tax rules can apply to different expense types and entities; an accounting entry alone does not establish that a tax deduction is available.
Make retrieval easy
Store documents securely with clear names and dates. The ATO says most tax records must be kept for five years, although the starting point and exceptions vary with the type of record and taxpayer. Ask for advice on the requirements for your circumstances.
Source: Australian Taxation Office — records you need to keep. General information as at 23 September 2026; it is not tailored tax advice.