ATO’s Record-keeping Tips

Hello Chasers,

As we settle back into work mode after the Christmas holiday break, the ATO has released their tips for keeping good records.

They have reminded taxpayers that they should understand the record-keeping requirements for their business and keep accurate and complete records as they occur, as this should help them avoid penalties that may apply and reduce the possibility of the ATO denying their expense claims.

The following are some of the ATO’s top tips to help businesses get it right and avoid record-keeping errors (based on common record-keeping errors the ATO sees):

Click here to read more …

Read more of our daily blogs in our Chasing the Dream Facebook Community

Share This

Related Posts

Featured
4 Min Read

Minimum Yearly Repayments on Division 7A Loans

Hello Chasers, If you have not fully paid your trust distribution to your ‘bucket company’ beneficiary or drawn out more money from your business than permitted without paying tax, then you will be very familiar with…
Read Full Article
Featured
4 Min Read

Book Like a Boss

Hello Chasers, Ever feel like your schedule is a tangled mess of phone calls, emails, and frantic juggling game with people showing up at the wrong time or not showing at all ? Yeah, we’ve all…
Read Full Article