---
title: "Record how long a CGT or depreciating-asset record is kept"
url: "https://ailawframework.com/practice/taxation/record-how-long-a-cgt-or-depreciating-asset-record-is-kept"
type: "task"
site: "AI Law Framework"
id: "A26-PE20261022-17"
practice_area: "Taxation"
tier: "yellow"
lawyer_review: "required"
last_reviewed: "2026-10-22"
---

# Record how long a CGT or depreciating-asset record is kept

> From the disposal date the lawyer supplies, record the date five years after it, and record that the page says the record is kept while the asset is held and then for those further five years.…

Canonical page: https://ailawframework.com/practice/taxation/record-how-long-a-cgt-or-depreciating-asset-record-is-kept  
Last reviewed: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

| Fact | Value |
| --- | --- |
| Practice area | [Taxation](https://ailawframework.com/practice/taxation.md) |
| Human involvement | Yellow: Lawyer and AI draft together |
| How AI is used | From the disposal date the lawyer supplies, record the date five years after it, and record that the page says the record is kept while the asset is held and then for those further five years. If the lawyer says the record was used again in a later return, or relates to an assessment that can be amended, record that the page says it is kept until the later period of review ends, without stating a length for that period. If the lawyer says the asset is in a low-value pool or subject to rollover relief, record that the page says different periods apply. Do not destroy the record. |
| What the lawyer must review | The lawyer decides which longer period applies, the disposal date, and the period of review. The lawyer does not treat five years after disposal as enough where the page requires a longer period. |
| Written for / versions | 1 jurisdiction versions below |

## Checking plan

**Source-by-source verification**

Trace relied-on content to independent sources and check for relevant material the output has missed.

- What the AI does: From the disposal date the lawyer supplies, record the date five years after it, and record that the page says the record is kept while the asset is held and then for those further five years. If the lawyer says the record was used again in a later return, or relates to an assessment that can be amended, record that the page says it is kept until the later period of review ends, without stating a length for that period. If the lawyer says the asset is in a low-value pool or subject to rollover relief, record that the page says different periods apply. Do not destroy the record.
- What the lawyer does: The lawyer decides which longer period applies, the disposal date, and the period of review. The lawyer does not treat five years after disposal as enough where the page requires a longer period.
- Who reviews: Responsible lawyer with competence in the matter
- Basis: Practical workflow informed by the linked primary sources; the traffic light and working checks are editorial guidance, not a court classification.
- Why: The level reflects what the work is, the consequence of an error, and how much of the output the lawyer must independently re-derive.

## Checks the lawyer makes

1. For a CGT asset or a depreciating asset, record five years after the disposal date and that the record is also kept while the asset is held.
2. Do not state a number of years for the period of review.
3. If the lawyer says the asset is in a low-value pool or subject to rollover relief, record that different periods apply and do not invent them.
4. Leave petroleum resource rent tax and minimum-tax records to the periods the page states, without adding detail from the linked pages.

## Notes

- These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.

## Sources

- [Australian Taxation Office, Records you need to keep for longer than five years, last updated 1 August 2025](https://www.ato.gov.au/businesses-and-organisations/preparing-lodging-and-paying/record-keeping-for-business/overview-of-record-keeping-rules-for-business/records-to-keep-longer-than-five-years) (checked 2026-10-22)

## Jurisdiction versions

| Jurisdiction | Level |
| --- | --- |
| [United States](https://ailawframework.com/practice/taxation/record-how-long-a-cgt-or-depreciating-asset-record-is-kept/united-states.md) | Yellow |

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*