A tornado slides across Oklahoma. Image courtesy NSSL/NOAA. Continued vigilance and quick response to tornado watches and warnings are critical, since tornadoes can strike virtually anywhere at any time. Most tornadoes are abrupt at onset, short-lived and often obscured by rain or darkness.
Most nonprofits and charities must keep books and records for a minimum of six years from the end of the last tax year to which they relate. This retention period will be extended if returns are late-filed or if there is a notice of objection or appeal underway.
How long your organisation needs to keep it's records. Your organisation must hold all records for seven years, even if you cease operating (except for incorporated organisations that have been wound up and dissolved).or GST you do not need to hold a tax invoice for items costing less than $50, but you do need to maintain a record of such payments. For income tax, you should have invoices for all expenses, whatever the amount.