Revenue NSW Retention of Records
Customer requirement to retain all records used in making their assessment.
An approval holder is required to retain records for each transaction for a period of five years as set out in Part 8 Section 53 of the Taxation Administration Act 1996.
- The required records include:
? A fully paid Duties Notice of Assessment and Duties Statement as record of endorsement
? Originals and/or copies of documents
? Supporting evidence (e.g., Purchaser/transferee declarations, Client Identification, Evidence of Value, Revenue NSW forms, statutory declarations etc) More information on Client Identification and evidentiary requirements for each
transaction type can be found here:
• Client Identification and Proof of Status requirements
• Evidentiary Requirements
For audit purposes, we will accept electronic records. The records must be easy to
access and read. See Part 8 of the Taxation Administration Act 1996 for more
information.