Hello, if there are any clued up people - can I please confirm my understanding of how long to keep our income tax records.

My understanding is 5 years from when you lodged your tax.

So, eg, if you lodged your tax for the 2007-2008 income year on October 1 2008, then you can discard those records as at October 1 2013?

Are there any exceptions/circumstances in which you would need to keep them for longer?