When to dispose off contract of sale
- Thread starter bez23
- Start date
I'm wondering the same thing, trawling through a mountains of disorganised paperwork at 2:30 in the morning doing my taxes for 13 properties....
When can let some of this stuff go, but you never know when you may need to look up some old details.
May as well file them away, well out of the way so it doesn't cause any bother.
When can let some of this stuff go, but you never know when you may need to look up some old details.
May as well file them away, well out of the way so it doesn't cause any bother.
I sold a property in most recent financial year - and my Accountant asked to see a copy of the original purchase contract.
So yes, I would highly recommend you to keep them until at least 5 years after you SELL any property.
What DaveM said and kept for minimum 5 years
If yo have claimed deductions on the property you need to keep evidence in case of an ATO audit. Probably not much need for a contract as the transfer indicates the amount, but it would be the contract date that is important.
NSW contracts are about 100+ pages so are a pain in the bottom to scan. But I do it, and usually do the whole contract.
If the file size is too big try using www.smallpdf.com to compress.
NSW contracts are about 100+ pages so are a pain in the bottom to scan. But I do it, and usually do the whole contract.
If the file size is too big try using www.smallpdf.com to compress.
