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 > 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 the ATO – the later of five years from the date you lodge your tax return or when the dispute is finalised