The following is required for record keeping and audit purposes:

• The relevant evidentiary requirements
• A copy of the fully paid Duties notice of assessment
• A copy of the endorsed instrument and any endorsed duplicates
• Client identification for each beneficiary/devisee
• Any additional information to support the assessment

For audit purposes we will accept electronic records. The records must be easy to access and read.

An approved person is required to retain for a period of five years, the original instrument or a copy, and any other documents used in relation to the assessment as set out in part 8 section 53 of the Taxation Administration Act 1996.

Approved agents that act on behalf of other solicitors, conveyancers & accountants are not required to retain the same level of records as other EDR approved persons. Practitioners that use an approved agent to undertake assessments on their behalf are required to retain for a period of five years, the original instrument or a copy, and any other documents used in relation to the assessment as set out in part 8 section 53 of the Taxation Administration Act 1996.

For detailed information relating to an approved person’s record keeping obligations, refer to the Directions for using Electronic Duties Returns (EDR) (PDF, 676.19 KB).