Retaining property records after a sale in Victoria is crucial for tax and legal purposes. As of December 2025, the Australian Taxation Office (ATO) generally requires you to keep records for five years from the date you lodge your tax return for the year of sale.
Currently in Melbourne, the selling process generates a significant amount of documentation. This includes the Section 32 Vendor Statement, the contract of sale, transfer documents, records of marketing expenses (photography costing $500-$1,500, and campaigns typically between $3,000-$8,000), invoices for any property preparation like styling ($2,000-$8,000) or painting ($400-$800 per room), and records of the sale price and settlement details. Fletchers’ client update technology provides a digital record of the campaign, but it’s your responsibility to retain all original documentation. While five years is standard, it’s prudent to consider keeping records for longer, particularly if the sale involved capital gains tax implications or complex circumstances. In 2026, with increasing scrutiny on property transactions, maintaining thorough records is more important than ever. We often advise clients in the Eastern Suburbs, where properties frequently benefit from renovation potential, to keep detailed records of improvement costs for future capital gains calculations.
Maintaining comprehensive property records post-sale ensures compliance and simplifies potential future inquiries.