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For businesses and employers Ngā pakihi me ngā kaiwhakawhiwhi mahi

Records of expenses

The records of your expenses should include:

  • invoices for purchases of more than $50, which you must receive when you buy goods or services on credit for the business
  • evidence of payment (eg, invoice, cash sale docket, till receipt) for purchases of $50 or less, if you wish to claim the expense for tax purposes
  • evidence of credit card purchases, including credit card vouchers, payment receipts and monthly statements. Also keep the invoice issued at the time of purchase.

You need to keep these records for seven years from the year that they were created.

Electronic records

If you are storing records on a computer, you must continue to keep all relevant paper records. Also take care to keep adequate back-up copies of your important electronic records (additional disk copies or print-outs).

Note: an EFTPOS transaction record is insufficient on its own as a record of a transaction.