How long do you have to keep these documents before you can destroy them?
After a long time, you may find that your files are full of personal information that is past due for fragmentation.
You may also be confused about which items to destroy to begin with. Here are some guidelines to follow when considering your local shredder service. However, people can also get paper recycling services in Perth at https://www.cdd1.com.au/services/paper-recycling-perth/.
Bank statements – Must be kept for one year. However, keep records reflecting home improvements, mortgages, or other major personal or business expenses as needed.
Credit card statements – keep for at least 45 days. Anything you need for tax purposes or proof of purchase should be on file until you confirm payment.
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Buying or Selling a Home – Claim for six years after selling your home.
Tax registry – should be kept for about seven years. If the IRS suspects you of wrongdoing, they can review you for up to three years.
If you are suspected of underestimating your gross income by at least 25 percent, the IRS could investigate you for up to six years.
Medical information – Must be kept for at least one year. You will need this record in the event of a refund dispute. It is also assumed that for any type of treatment you will need a record of you from the time of treatment to the end of the symptoms.