NZ IRD 7-Year Record Keeping Rules & Taxable Supply Info (2026–2027)

Short answer: Under NZ IRD 7-year record keeping rules for a sole trader (section 22 of the Tax Administration Act 1994 and section 75 of the Goods and Services Tax Act 1985), self-employed Kiwis and tradies must retain all business income invoices, expense receipts, GST Taxable Supply Information (TSI), fixed asset registers, and vehicle logbooks in English (or Māori) for at least seven years after the end of the income year (31 March) to which they relate.

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New Zealand has one of the longest statutory tax retention windows in the English-speaking world: seven full years after the end of the income year (extendable to 10 years if Inland Revenue notifies you before the 7-year period expires that an audit or investigation is underway). Whether you are a sole-trader builder in Auckland, a sparky in Christchurch, a plumber in Wellington, or a freelancer filing an IR3 tax return, losing thermal dockets from Bunnings, Mitre 10, or Z Energy can trigger disallowed deductions on your IR3 and lost 15% GST input credits on your NZ GST return.

As you organize your books for the 2025–26 (1 April 2025 – 31 March 2026) and 2026–27 (1 April 2026 – 31 March 2027) New Zealand tax years, this guide breaks down Inland Revenue’s record-keeping rules, the Taxable Supply Information (TSI) thresholds ($200 and $1,000), and how digital receipt photos keep you 100% audit-ready.

How does the IRD 7-year retention clock work for 2026–2027 tax years?

In New Zealand, the standard income tax year runs from 1 April to 31 March. Under Section 22(2) of the Tax Administration Act 1994, the 7-year retention clock starts at the end of the income year (or GST taxable period) to which the records relate:

NZ Income Year (Standard Balance Date)	IR3 Filing Deadline (No Tax Agent / With Extension)	7-Year Statutory Retention End Date	If IRD Issues an Audit Notice Before Year 7 (Up to +3 Years)
2025–26 Tax Year (1 Apr 2025 – 31 Mar 2026)	7 July 2026 (or 31 March 2027 with tax agent extension)	31 March 2033	Up to 31 March 2036 (10 years max)
2026–27 Tax Year (1 Apr 2026 – 31 Mar 2027)	7 July 2027 (or 31 March 2028 with tax agent extension)	31 March 2034	Up to 31 March 2037 (10 years max)
2027–28 Tax Year (1 Apr 2027 – 31 Mar 2028)	7 July 2028 (or 31 March 2029 with tax agent extension)	31 March 2035	Up to 31 March 2038 (10 years max)

Records you must keep LONGER than 7 years in New Zealand:

• Depreciating fixed assets (utes, vans, trailers, heavy machinery over $1,000): You must keep the purchase invoice, 20% Investment Boost calculation, and depreciation schedule for 7 years after the end of the income year in which you sell, scrap, or dispose of the asset (see NZ depreciation rates and our NZ $1,000 low-value asset write-off guide).
• 90-Day IRD Vehicle Logbook: Under NZ mileage rates and vehicle expenses, a 90-day vehicle logbook establishes your business-use percentage for up to 3 years. Because that 3-year period relies on the initial logbook, you must keep the 90-day logbook for 7 years after the end of the third income year that uses it (up to 10 years from when you recorded the logbook!).

How did New Zealand’s GST “Taxable Supply Information” (TSI) rules replace old Tax Invoices?

Under New Zealand’s modernized GST invoicing rules in the Goods and Services Tax Act 1985 (effective across 2026 and 2027), the rigid old paper “Tax Invoice” format was replaced with “Taxable Supply Information” (TSI). However, to claim GST on expenses in New Zealand, your digital receipt or supplier record must still contain specific statutory fields depending on the GST-inclusive purchase price:

Purchase Amount (Including 15% GST)	Do You Need Formal Taxable Supply Information (TSI) to Claim 15% GST?	Mandatory Details Required in Your Record
$200.00 or less (incl. GST)	No formal TSI required, but you must still keep a transactional record (receipt, docket, or invoice)	Supplier name, date of purchase, description of goods/services, and total amount paid
$200.01 to $1,000.00 (incl. GST)	Yes — Simplified Taxable Supply Information	Supplier’s name and GST number (IRD number), date of supply, description of goods/services, and either the GST-exclusive amount + GST + total OR total amount + statement that GST is included
Over $1,000.00 (incl. GST)	Yes — Full Taxable Supply Information (including Buyer Details)	All of the above PLUS the recipient’s (your) name and address/contact details, and the quantity or volume of the goods or services supplied

Notice the $200 threshold and the $1,000 threshold:

• Under $200 incl. GST, an ordinary cash register receipt without the supplier’s GST number is valid for claiming 15% GST (provided the supplier is in fact GST-registered).
• Above $200 incl. GST, your receipt must show the supplier’s NZ GST number.
• Above $1,000 incl. GST, the receipt or invoice must also show your own name and details as the buyer plus item quantities!

Does IRD allow digital photos of paper receipts so you can throw away thermal dockets?

Yes. Inland Revenue explicitly confirms under Standard Practice Statement SPS 21/02 (Retention of business records in electronic format) and the Contract and Commercial Law Act 2017 that you may convert paper invoices and thermal receipts into digital images (smartphone photos or PDFs) and destroy the paper originals, provided:

1. The electronic image is a complete, accurate, and legible copy of the paper receipt;
2. The digital record remains readily accessible and convertible into legible form in New Zealand for the full 7-year retention period; and
3. Your system preserves the integrity of the record (date, supplier, GST number, line items, and totals) so an IRD investigator can verify the link between the source receipt and your IR3/IR10 or GST return.

Why is a bank or EFTPOS statement alone NOT enough for an IRD audit?

Many Kiwi sole traders mistakenly think that downloading 7 years of ANZ, ASB, BNZ, Westpac, or Kiwibank CSV statements satisfies Section 22 of the Tax Administration Act. It does not. A bank statement line ($345.00 — PLACEMAKERS) does not show:

• Whether the items purchased were materials for a client job or private hardware for your own house;
• Whether a single tool on that receipt exceeded the $1,000 ex-GST capital threshold; or
• The Taxable Supply Information required by the GST Act for purchases over $200 (incl. GST).

For income tax purposes on your IR3, IRD only waives the requirement to hold a physical/digital receipt for individual minor expenses of $50 or less where obtaining a receipt is impractical—and even then, you must record the date, description, supplier, and amount in a contemporaneous business log. See NZ self-employed expenses and receipts.

How should a New Zealand sole trader organize a 7-year audit pack?

Keep four clean digital folders for every 1 April – 31 March tax year:

1. Sales Invoices & Schedular Payment Summaries: Sequential invoices issued to clients (see how to invoice as a contractor in NZ) plus any wt / schedular payment deduction summaries from labour-hire or head contractors (see NZ contractor tax rate and schedular payments).
2. Digitized Expense Receipts & Supplier TSI: Categorized to match Form IR10 boxes (Purchases, Subcontractor payments, Vehicle expenses, Home office, Low-value assets $\le$ $1,000, and Other operating expenses).
3. Fixed Asset & Depreciation Schedule: Assets over $1,000 ex-GST, showing any 20% Investment Boost claimed and your annual Diminishing Value (DV) or Straight Line (SL) calculations.
4. Vehicle Logbook & Kilometre Rate Calculation: Your 90-day logbook plus annual odometer readings supporting your Tier 1 (first 14,000 km) and Tier 2 kilometre rate claims.

Frequently asked questions

How long do sole traders have to keep tax records and receipts in New Zealand?

Under Section 22 of the Tax Administration Act 1994 and Section 75 of the Goods and Services Tax Act 1985, New Zealand sole traders must keep all business records, sales invoices, expense receipts, GST Taxable Supply Information, and vehicle logbooks for at least 7 years after the end of the income year (31 March) to which they relate—and up to 10 years if Inland Revenue notifies you of an audit before the 7 years expire.

Can I throw away paper receipts in NZ once I photograph them on my phone?

Yes. Inland Revenue allows you to store business receipts and invoices electronically (as clear smartphone photos or PDFs) and discard the paper originals, provided the digital image captures all required details legibly and is backed up so it can be produced in New Zealand for the full 7-year retention period.

What is the $200 GST Taxable Supply Information threshold in New Zealand?

For purchases of $200 or less (including 15% GST), you do not need full Taxable Supply Information showing the supplier’s GST number to claim a GST input credit—an ordinary receipt showing the date, supplier, items, and amount paid is sufficient. For purchases over $200 (including GST), your record must include the supplier’s GST number, and for purchases over $1,000 (including GST), it must also include your own buyer details and item quantities.

How long do I have to keep my 90-day IRD vehicle logbook?

A 90-day vehicle logbook can be used to establish the business-use percentage of your vehicle for up to 3 income years (as long as your business use doesn’t change by more than 20%). Because you must keep records for 7 years after the end of the last income year they support, you must keep that 90-day logbook for 7 years after the end of the third year—up to 10 years in total.

Do records have to be kept in English in New Zealand?

Yes. Under Section 22 of the Tax Administration Act 1994, business records must be kept in English or te reo Māori (unless the Commissioner of Inland Revenue grants written approval in advance to keep specific records in another language) and must be accessible from New Zealand.

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This article is general tax information, not personalized tax or legal advice. Verify record-keeping requirements with Inland Revenue (ird.govt.nz) or a New Zealand chartered accountant.

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