Updated 06/11/2026
What records should I keep for my investment property at tax time?
Keep records of every dollar in and out for each property: rent statements, expense receipts, loan statements and anything that changes what the property cost you, such as purchase costs and improvements. The ATO says to keep income and expense records for 5 years from when you lodge, and buying, owning and selling records for at least 5 years after you sell.
When you buy
- Contract of purchase and conveyancing documents
- Stamp duty, legal fees, and building and pest reports
- Loan documents and borrowing costs, such as establishment fees and lenders mortgage insurance
Every year you own it
- Rental income: property manager statements, or your own rent records if you self-manage
- Expense receipts: rates, insurance, strata, repairs, management fees, advertising
- Loan and bank statements showing the interest charged
- Leases and condition reports
- A depreciation schedule, if you have one
- Receipts and before and after photos for capital improvements
- Any periods the property was used privately or was your home
When you sell
- Contract of sale and conveyancing documents
- Selling costs, such as agent fees and advertising
- Your capital gain or loss calculation
How long to keep them
| Record | Keep for |
|---|---|
| Income and yearly deductions | 5 years from the date you lodge that tax return |
| Buying, improving and selling records | The whole time you own it, plus at least 5 years after you sell |
| Amended returns | Long enough to cover the amendment period |
Records can be paper or digital. The ATO recommends keeping a backup of digital records.
Tips that save time
- Keep each property separate. If you own more than one, the ATO expects separate records for each.
- Label repairs versus improvements when the work is done. They are treated differently for tax.
- Keep loan redraw records. If you redraw for something private, it changes how much interest you can claim.
- Store receipts as you go, not in a rush every June.
Keeping it all in one place
Opulo lets you store documents against each property and keeps income and expenses organised by property, so tax time is a handover to your accountant rather than a search through old emails.