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Changing your business structure – records

ATO information about the records you need to keep if you change your business structure.

Last updated 27 November 2019

As your business grows or changes, you may decide to change your business structure. If you change your business structure, you will need to keep records of any decisions you make that affect your tax, superannuation or employer obligations.

If you do change the structure of your business, ensure you understand the obligations of the new structure.

Records required

Your records need to include information that shows that:

  • appropriate controls and processes are in place to support compliance with tax, super and employer obligations and identify, assess and mitigate commercial and tax risks
  • material transactions are well documented and subject to appropriate review and sign-off for tax risk purposes.

These types of records need to be kept for five years starting from when you prepared or obtained the records, or completed the transactions or acts those records relate to, whichever is later.

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