how long to keep utilities/credit card invoices?

Discuss about life in Singapore. Ask about cost of living, housing, travel, etiquette & lifestyle. Share experience & advice with Singaporeans & expat staying in Singapore.
Post Reply
lsac0902
Regular
Regular
Posts: 74
Joined: Thu, 08 Feb 2007 6:44 pm
Location: Singapore
Contact:

how long to keep utilities/credit card invoices?

Post by lsac0902 » Wed, 22 Jul 2009 1:53 pm

Is there any rule? I ask the question because there are rules for this kind of thing in my home country.

User avatar
carteki
Editor
Editor
Posts: 1237
Joined: Mon, 28 Apr 2008 11:03 pm
Location: Singapore
Contact:

Re: how long to keep utilities/credit card invoices?

Post by carteki » Wed, 22 Jul 2009 3:41 pm

There are no rules per say for an individual, but companies have to comply with document retention laws for tax purposes etc. Depends on why you would need them. If you need proof of purchases, or payments for tax purposes then you need to keep them. More information needed.

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 39647
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 10
Location: Retired on the Little Red Dot

Post by sundaymorningstaple » Wed, 22 Jul 2009 3:48 pm

For your own safety it would be wise to keep them for 7 years. However, the legal requirement might not be as today most have online documentation where you opt out of receiving tree destroying hardcopies. You could do what I do and scan them all and burn them to DVD by year. Or you could just keep them in envelopes (I used to do that) before CD burners.

Unless you are a business though, I don't see really any reason to keep them any longer than a year or two. (I did use my old utility bills a while back to chart a trend over the 10 years I've been in my HDB Flat).
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

lsac0902
Regular
Regular
Posts: 74
Joined: Thu, 08 Feb 2007 6:44 pm
Location: Singapore
Contact:

Post by lsac0902 » Wed, 22 Jul 2009 4:56 pm

it's a personal matter. The scan is a good idea. Have a lot to scan though :shock:

User avatar
Strong Eagle
Moderator
Moderator
Posts: 11504
Joined: Sat, 10 Jul 2004 12:13 am
Location: Off The Red Dot
Contact:

Re: how long to keep utilities/credit card invoices?

Post by Strong Eagle » Wed, 22 Jul 2009 5:39 pm

carteki wrote:There are no rules per say for an individual, but companies have to comply with document retention laws for tax purposes etc. Depends on why you would need them. If you need proof of purchases, or payments for tax purposes then you need to keep them. More information needed.
And what is truly dumb about the business rules is that officially you are supposed to keep hardcopy. But most receipts for taxis, restaurants and other purchases fade in 6 months or less. Scanning is better, but...

Every year my annual report is footnoted with the fact that I don't have hardcopy documentation even though that junk would be illegible.

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Staying, Living in Singapore”

Who is online

Users browsing this forum: No registered users and 11 guests