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  #   004-001 - Why Keep Records?

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  "Why Keep Records?" is an introduction, for a small business operator, on the necessity to maintain business records. Items covered include: the importance of keeping business records. enables an accurate picture of your financial affairs to be determined. meets the requirements of the Income ...[Read more](#hikashop_show_tabular_description)

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 "Why Keep Records?" is an introduction, for a small business operator, on the necessity to maintain business records.

Items covered include:

- the importance of keeping business records.
- enables an accurate picture of your financial affairs to be determined.
- meets the requirements of the Income Tax Act.
- considers the type of records to be kept.
- refers to work papers.
- mentions that, if proper records are not kept, penalties may be imposed by the Australian Taxation Office.