Benchmarks for Performance of Australian Business

Australian tax office has huge database of information regarding the industry operations and have benchmarks of performance in various industries. They use various financial ratios in order to compare the performance of individual business with that of industry performance. You need to ensure that you select correct industry code along with...

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How long to keep Bookkeeping documents for Australian business

Documentation is at heart of accounting. However question arises as to the time period for which the tax records needs to be maintained. How long am I required to keep my tax records : There is a requirement that you need to keep your tax records for five years from the date you file your tax returns. However there are certain cases in which...

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