Income Tax Assessment Act 1997

CHAPTER 5 - ADMINISTRATION  

PART 5-30 - RECORD-KEEPING AND OTHER OBLIGATIONS  

Division 900 - Substantiation rules  

Subdivision 900-C - Substantiating car expenses  

SECTION 900-75   Retaining the written evidence and odometer records  

900-75(1)    
Once you have the material required by this Subdivision, 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 .

900-75(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.

900-75(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 .

900-75(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.

900-75(5)    
If you lose any of the material, there are rules that might help you in section 900-205 .