What records should you keep

You should keep records in these main categories:

This advice tells you what main types of records you should keep in each of these categories. You may also need to keep records in some other categories, or for other members of your family – for example, if you receive the family tax benefit.

You may decide not to keep particular records – for example, because you expect to claim for only a small amount of business travel. If it turns out that you travel more than you expected during the year, you may be limited to a smaller claim than if you had kept more records.

So if you’re not sure whether or not to keep a record, you should keep it – you can decide whether you need it at tax return time.

If you incur expenses for private purposes, you must have records that show how you worked out the amount of any private use.

If you obtain receipts or invoices, they could show such things as the:

  • name of the supplier
  • Australian business number (ABN) of the supplier
  • amount of the expense or purchase
  • nature of the goods or services purchased or expense incurred
  • date the expense was incurred
  • date of the document.