Record the five-year date for a business tax record
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the dates the lawyer supplies, record the later of the date the record was prepared or obtained and the date the transactions or acts were completed, and record the date five years after that later date. If the lawyer says the record is an FBT record, a record of an employee super contribution, or a record of super fund choice, record five years from the start date the lawyer names for that kind of record. Note whether the lawyer says the record must be kept longer. Do not destroy the record.
- What the lawyer must review
- The lawyer decides which start date applies, whether a longer period applies, and whether the record contains the information the page says a record needs.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | Do not begin AI assistance until the responsible lawyer has defined and confirmed its permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Use the later of preparation or obtaining the record and completion of the transactions, unless the lawyer names a different statutory start.
- For FBT, super contributions and super choice, use the start date the lawyer names from the page.
- Do not treat five years as the end date if the lawyer says a longer period applies.
- Leave the contents of the record, and any ASIC seven-year period, to the lawyer.
Sources
- Australian Taxation Office, Overview of record-keeping rules for business, last updated 18 June 2026 · 2026-10-22
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.