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Tax Records
(may be computerised data or manual records)
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| Cash-book |
| Records all payments
and receipts by cash, cheque, automatic payment and automatic
teller machine. List different types of income and expenses under
separate headings, and keep a running total of your bank balance.
Use separate columns for GST paid and received. It's a good idea
to check your cash-book entries against your bank statement,
and total all columns at least monthly. |
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| Petty cash book |
| Use this to record
small cash expenses in your business. Attach the receipts for
petty cash expenses to a blank page in the book, and balance
it at least monthly. |
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| Wages book |
| This records wages
paid to each employee and monthly totals for end of month and
end of year returns. Use a fresh page for each employee, and
keep a monthly summary showing the total wages and deductions. |
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| Vehicle Logbook |
Use this to record
business running of motor vehicles so that you claim only the
business portion of the vehicle expenses. Each vehicle should
have a log book covering a period of not less than 3 months each
3 years.
Note: There are differences between Companies & Sole
Trader on the treatment of vehicle expenses. (also see our Fringe Benefit Page) |
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| Asset register |
| Record all non
consumable assets in this book and show purchase price excluding
GST and detail the appropriate depreciation rates. |
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