Category: Tax
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Record-keeping
You are legally required to keep records of all transactions related to your tax, superannuation, and registration affairs throughout the lifecycle of your business. A record explains the tax and super-related transactions conducted by your business. It must contain enough information to determine the essential features or purpose of the transactions. Minimum Information Required •… Read more
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Business Tax Deduction
You can claim a tax deduction for most expenses you incur in carrying on your business if they are directly related to earning your assessable income. Here is an overview of the various tax deductions available to Australian businesses, helping you understand what expenses you can claim while ensuring compliance with the Australian Taxation Office… Read more