15/07/2026
The short answer: the ATO generally requires businesses to keep most records for five years from the date you lodge your tax return. That covers everything from invoices and receipts through to bank statements and payroll records.
The longer answer is that some records sit outside that five-year window. If you're dealing with capital gains assets, you'll need to hold onto records for the entire time you own the asset, plus five years after you sell it.
If you're not sure what you should be holding onto, or you've inherited a mess from a previous system, it's worth having a conversation with your accountant sooner rather than later.
Drop your questions in the comments or get in touch with the AMD team.