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26-04-08
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What is requirement by Australian Tax Office for records.?
How long does a business have to keep records for Australian Tax Office - this business is no longer operating
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27-04-08
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#2 |
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Junior Member
Join Date: Apr 2008
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What is requirement by Australian Tax Office for records.?
On the Elite Financial Solutions site, the "In Brief with Elite" newsletter states:HOW LONG MUST YOU KEEP YOUR RECORDS?• Individuals (Income Tax) – 5 years• Businesses – Non Company (Income Tax, GST) – 5 years• Businesses – Company (Income Tax, GST) – 7 years as per the Corp Act 2001• Businesses (Workers Comp i.e., wage and contractor records) – 7 yearsSee document:http://www.elitefinance.com.au/newsletter/docs/vol_1_2004.pdf#search='closed%20business%20tax%20r ecords%20how%20long%20keep'
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