acquire or dispose of an asset – five years after it is certain that no capital gains tax (CGT) event can happen, so you know you don't need the records to work out a capital gain or loss. are in dispute with us – the later of five years from the date you lodge your tax return or when the dispute is finalised.
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/In-detail/Record-keeping/Keeping-your-tax-records/
Excluding employment tax records, files relating to current employees should be retained while they are working for you and at least 7 years after a current or former employee has left or been terminated. For any job applicants who were not eventually hired, keep these files for at least 3 years.
http://www.nolo.com/legal-encyclopedia/how-long-should-you-keep-business-records.html
With this method, you only record income or expenses when you receive money or pay a bill. This means you won’t need to pay Income Tax on money you haven’t yet received in your accounting period. ExampleYou invoiced someone on 15 March 2016 but didn’t receive the money until 30 April 2016.
https://www.gov.uk/self-employed-records/overview
The IRS generally has up to three years after the tax-filing deadline to initiate an audit, so keep your tax returns and supporting documents at least that long—in other words, after April 15 this year, hang on to returns and documents for tax years 2012 through 2014 .
http://www.kiplinger.com/article/taxes/T056-C001-S003-tax-records-you-can-safely-toss.html
How long to keep your records Generally, you must keep your written evidence for five years from the date you lodge your tax return or if you: have claimed a deduction for decline in value (formerly known as depreciation) – five years from the date of your last claim for decline in value.
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/In-detail/Record-keeping/Keeping-your-tax-records/
Starting with the 2014 tax year, you’ll also need to keep records showing that you had minimum essential health insurance coverage or qualified for an exemption, and records of any premium subsidy you received. See How Obamacare Affects Your 2014 Tax Return for more about the documents you now must keep.
http://www.kiplinger.com/article/taxes/T056-C001-S003-tax-records-you-can-safely-toss.html
Typically, the IRS can come after your business for failing to report income for up to 6 years after your filing if the amount is greater than 25% of your business’s gross income. If you filed for a deduction for a bad debt or worthless security, the IRS suggests you keep your supporting tax records for 7 years. Under these circumstances, you may generally wish to retain your supportive records for at least 7 years. Employment Tax Records.
http://www.nolo.com/legal-encyclopedia/how-long-should-you-keep-business-records.html
If you’re self-employed or have a small business, or you have income from a variety of sources or a complex tax situation, keep your records longer. The IRS has up to six years to audit anyone who neglects to report more than 25% of his or her income.
http://www.kiplinger.com/article/taxes/T056-C001-S003-tax-records-you-can-safely-toss.html
Why should I keep records? Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of your basis in property, prepare your tax returns, and support items reported on your tax returns.
https://www.irs.gov/businesses/small-businesses-self-employed/recordkeeping
You may also need to keep records in some other categories, or for other members of your family – for example, if you receive the family tax benefit. You may decide not to keep particular records – for example, because you expect to claim for only a small amount of business travel.
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/In-detail/Record-keeping/Keeping-your-tax-records/
how long do you keep business tax records
You can keep business tax records for 6 years. You should keep business tax records for 6 years. You should keep 6 years business tax records .