"Why Keep Records?" is an introduction, for a small business operator, on the necessity to maintain business records.
Items covered include:
- the importance of keeping business records.
- enables an accurate picture of your financial affairs to be determined.
- meets the requirements of the Income Tax Act.
- considers the type of records to be kept.
- refers to work papers.
- mentions that, if proper records are not kept, penalties may be imposed by the Australian Taxation Office.
