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For businesses and employers Ngā pakihi me ngā kaiwhakawhiwhi mahi

Records of income

You should keep the following records of your income:

  • Tax invoices, if you are registered for GST and invoicing a customer/client or another GST-registered person (see an illustration of a tax invoice containing the necessary information for tax purposes)
  • Other invoices, eg, for supplies of $50 or less, which do not require a full tax invoice even if you are registered for GST  
  • Credit card sales, keeping all copies of the vouchers and voucher schedules
  • Debit notes, which you must send to your customers (clearly marked as a "debit note") if the price of your goods/services increases after you issue your original invoice
  • Credit notes, which you must send to your customers (clearly marked as a "credit note") if the price of your goods/services decreases after you issue your original invoice
  • Cash register tape for businesses that make many cash sales and therefore are not required to issue tax invoices for each sale. All cash sales should be recorded on the tape.

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

Electronic records

If you are storing records on a computer, take care to keep adequate back-up copies of your important electronic records (additional disk copies or print-outs). Electronic records must also be kept for seven years.