How long are documents retained?

Below are the recommended retention periods for various types of documents.

• Tax returns and supporting documents: 7 years.
• Bank documents and attorney’s fees: 5 years.
• Construction and renovation documents: 10 years.
• Miscellaneous invoices: up to 10 years, depending on the type.
• Utility bills and electrical appliance receipts: 2 years.
• Restaurant and bar receipts: 6 months.
• Housing-related documents (leases, mortgages): 5 years.
• Receipts for small amounts: 1 month.
• Pay stubs: 10 years; recommended to keep until retirement.
• Personal and family documents: for life.
• Insurance documents: 10 years, except for liability insurance, which should be kept for life.