• General accounting records

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    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    So that you can get the documents that the Tax Office may ask for, the Tax Office requires the company to keep general accounting records. These may be kept either in Australia or elsewhere.

    These records include:

    • invoices
    • receipts
    • orders for the payment of money
    • bills of exchange
    • cheques
    • promissory notes
    • vouchers
    • other documents of prime entry.

    The records would also include any working papers and other documents necessary to explain how the accounts are made up.

    General accounting records should also correctly record and explain the matters, transactions, acts and operations that are relevant to the preparation of the CFC's recognised accounts for the statutory accounting period. These records must be available if the Tax Office needs to check the matters and figures in the accounts.

    Last modified: 05 Dec 2006QC 18000