Inland Revenue requires New Zealand businesses to keep records for 7 years. Boxkite automatically backs up your Xero data to Dropbox, ensuring you have complete records for tax audits, GST reviews, and payday filing queries.
| Retention Period | Records | Notes |
|---|---|---|
| 7 years | Income tax records | From end of income year |
| 7 years | GST records | From end of GST period |
| 7 years | PAYE records | From end of tax year |
| 7 years | FBT records | From end of income year |
| 7 years | Employer superannuation records | KiwiSaver contributions |
| Indefinite | Property records | Until sold plus 7 years |
Inland Revenue audits your business covering multiple years. They request source documents for all GST returns and income tax filings. Without complete records, you face amended assessments and potential shortfall penalties.
IRD reviews your GST returns and requests tax invoices supporting your input tax claims. Missing invoices mean disallowed credits and use-of-money interest charges.
An employee or IRD queries payday filing information from previous years. You need the underlying payroll records that generated the submissions. Boxkite backups preserve this historical data.
Automatic daily backups accumulate over time, meeting IRD's 7-year retention requirement.
Records stored in accessible, standard formats that IRD accepts for electronic record-keeping.
All your GST transaction records are preserved, supporting returns and input tax claims.
Records are backed up to your Dropbox—under your control, accessible anytime IRD asks.
Start protecting your Xero records today. Automatic backups ensure you always have the documentation Inland Revenue requires.
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