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

Date: 27 Jun 2024