This information is brought to you by business.gov.au
Under tax law, you must keep records of all your business transactions. You’re required to keep records relating to income tax, GST, payments to employees and business payments. Activity statements are used to report and pay your tax obligations, including PAYG, FBT and GST, and to pay deferred company and superannuation fund instalments.
- Record keeping
Good business records help you manage your business and make sound business decisions. - Reporting activity statements
You make payments and report your obligations under the tax system using an activity statement.