How long do you need to keep receipts for?

You must keep your written evidence for 5 years from the date you lodge your tax return.

In limited circumstances, there are different time periods for keeping records or record keeping exceptions.

In the following situations the period for keeping records is:

• 5 years from the date of your last claim for decline in value, if you claim a deduction for the decline in value of depreciating assets

• 5 years after it is certain that no capital gain tax (GCT) event can happen, if you acquire or dispose of a CGT asset

• For the later of following periods if you are in dispute with The ATO, either

  • 5 years from the date you lodge your tax return

  • 5 years from the date the dispute is resolved. You must have incurred the expense in the 2022–23 financial year.

To claim a deduction for a work-related expense:

• You must have spent the money yourself and were not reimbursed

• The expense must be directly related to earning your income

• You must have a record to prove the expense.

Format of your records

You can keep your records in paper or electronic format, including photos of your written evidence. If you make paper or electronic copies of your records, they must be a true and clear copy of the original record.

Your records must be in English where you incur the expense in Australia. However, if you incur the expense in a country outside Australia, the document can be in the language of that country. If you incur the expense in Australia and your record is not in English, you need to translate them to English using an authorised translation office.

You can use any electronic device or app to keep your electronic records. However, The ATO recommend backing up your electronic records regularly.

You must be able to substantiate your claims for deductions with written evidence.