Generally, you need to keep these for five years from when you lodge your tax return in case we ask you to substantiate your claims.
Records you need to keep include:
If your total claim for work-related expenses is more than $300, you must have written evidence to prove your claims.
If you acquire a capital asset – such as an investment property, shares or managed fund investment – start keeping records immediately because you may have to pay capital gains tax if you sell the asset in the future. Keeping records from the start will ensure you don’t pay more tax than necessary.
Your documentation must be in English, unless you incurred the expense outside Australia.
Are you always on the go? Save time and keep your tax organised with the ATO app’s myDeductions tool.
myDeductions is a record-keeping tool to make it easier and more convenient for you to keep track of your records all in one place.
You can upload your completed records to the ATO from the myDeductions tool and pre-fill your myTax return. If you use a registered tax agent, you can share your records diretly with them via email.
The ATO app’s myDeductions record-keeping tool helps you keep records for: