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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 5 - ADMINISTRATION  

PART 5-30 - RECORD-KEEPING AND OTHER OBLIGATIONS  

Division 900 - Substantiation rules  

Subdivision 900-B - Substantiating work expenses  

SECTION 900-25  Retaining the written evidence and travel records  

 ITAA 36

900-25(1)  

Once you have the material required by section 900-15 or 900-20 , you must retain it for 5 years. There is no need to lodge it with your *income tax return. The Commissioner may require you to produce it: see Subdivision 900-G . The period for which you must retain it is called the retention period .

900-25(2)  

The 5 years start on the due day for lodging your *income tax return for the income year. If you lodge your return later, the 5 years start on the day you lodge it.

900-25(3)  

However, the *retention period is extended if, when the 5 years end, you are involved in a dispute with the Commissioner that relates to the expense. See section 900-170 .

900-25(4)  

If you do not retain the material for the *retention period, you cannot deduct the expense. If you have already deducted it, your assessment may be amended to disallow the deduction.

900-25(5)  

If you lose any of the material, there are rules that might help you in section 900-205 .

 



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