How Long Should I Keep Documents?

Find out from the appropriate authorities (e.g. bank or credit union, tax office, insurance company) how long you need to keep specific documents. Here is a general guide for some of the more common documents.

Keep Indefinitely

Identity

• You must keep papers that establish your identity, and that of your family, in a safe place and for your whole life. If possible, keep originals in one safe place and copies in another
• Birth certificate
• Adoption papers
• Marriage certificate
• Divorce or separation papers
• Death certificates for family members
• Passports and naturalisation papers
• Driving licences for all family members
• Wills (held by a lawyer, public trustee or kept in a safe-deposit box in a bank)

Health

• Medicare card (Australia); community services card (New Zealand); health and social security card (South Africa)
• Private health care insurance policies and related cards
• Vaccination certificates
• Results of medical examinations such as pathology tests and X-rays
• Blood-group card (if you are a blood donor)

Education

Degrees and diplomas
Certificates of secondary, technical or other educational courses

Financial and legal

• Deeds and documents relating to property ownership (or unsigned copies if the originals are kept by a bank or other mortgagor)
• Copy of your will (keep original with a lawyer, a public trustee or in a safe-deposit box in a bank)
• Insurance policies for house or apartment (both building and contents cover)
• Life insurance contracts and policies
• Power of attorney
• Superannuation fund details
• Any civil or military pension entitlements. (In the case of loss, a copy of some of these documents may be obtained from the relevant authorities)

Keep until Retirement

• Pay slips, work contracts
• Letters of appointment
• Letters of dismissal
• Notification of termination of employment (and details of any Eligible Termination Payment)
• Records of unemployment or social security benefits, including those received in the case of sick leave or accident
• Lapsed insurance policies (and proof that they have been terminated)

Keep for 6-7 years

• Building permits
• Construction warranties on structural defects (6 years in NSW; 2 years for non-structural defects)
• Real estate agents’ fees
• Bank statements
• Chequebook stubs
• Loan contracts
• Receipts of deposits and transfers relating to a bank account
• Insurance policies covering cars, income protection and professional indemnity (review annually)
• Contracts with service providers for Internet and mobile phone access
• Invoices for furniture, paintings and other valuables
• A list of assets for insurance purposes (with photographs)
• Medical file created following an accident
• Property inspection report

Keep for 6 years

• Debt recovery limitation on loans between individuals
• Receipts of payment of lawyers’ fees

Keep for 5 years

• Taxation documents, including personal tax returns, company returns and, if registered for GST (or VAT), records of payments and refunds
• In the case of a tax audit, investigations can cover a period of up to 5 years. Keep the documents relating to your tax declarations for this period

Keep for 3 years

• Gas and electricity bills after you have left a rental property
• Documents relating to the sale and management of real estate property
• Rental agreement
• Rent receipts
• Receipt of payment of lawyers’ fees

Keep for 2 years

• Invoices for improvement work carried out on your home
• Receipts for local council rates
• Insurance premium receipts
• Correspondence with your insurer regarding the payment of any claims
• Receipt of payment for medical expenses

Keep for 1-3 years

• Telephone bills
• Warranties and guarantees

Keep for 30 days

• Bills relating to moving house; claims must usually be made within 7 to 30 days. Check the policy