Blog tagged as CGT record keeping

The ATO generally accepts electronic records, but only if the copy is legible, complete and retrievable, which is why a blurry phone photo is no better than a lost receipt.

The 5-year record retention rule sounds simple, but the clock starts from when you lodge the relevant return — not the transaction date — and some records (depreciating assets, CGT) need to be kept well beyond 5 years.