How long must you retain non financial records?
7 years
In NSW, records must be kept for at least 7 years from the date that the recorded transaction, operation or act covered by the record/s are finally complete.
What are non financial records?
Non-Financial Records means the non-financial records of the Corporate Group, including formulas, plans, specifications, data, surveys, contracts and non-financial documents; business, engineering and consulting reports; research and development information, including information relating to Nu-Trax, results and data …
How long should records and information be retained?
(1) Category-I (e-Files/records to preserved permanently on which are of historical importance) – For 10 years, it will be kept in the Department’s sever and thereafter transferred to the server of the National Archives of India.
How long does the ATO require business records to be kept for?
five years
You must keep all your business records for five years, including tax invoices, receipts, salary and wages records, tax returns and activity statements, and super contributions for your employees.
How many years of tax records should I keep in Australia?
You need to keep records for five years (in most cases) from the date you lodge your tax return. Records may include income statements, payment summaries and receipts.
What type of information is non-financial?
Non-financial information is often defined as Environmental, Social, and Corporate Governance (ESG) information, referring to the three central components in measuring the sustainability and societal impact of a company.
How many years should you keep financial records?
The conventional wisdom is you only need to keep bank, credit card and other personal finance documents for six years.
How long should accountants keep client records?
As Winch explained, accountants also have record retention obligations under the Money Laundering Regulations (MLR) 2007. These require documents relating to the client’s ID, business relationship with the adviser and ‘occasional transactions’ to be retained for five years from the end of the engagement.