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The Australian Taxation Office (ATO) is warning businesses to keep good records or face stiff penalties. The ATO says while businesses will be given an opportunity to improve their record keeping, if they fail to improve penalties of up to $2,200. ATO commissioner Michael Carmody says while people won't be penalised if they have already paid the correct amount of tax, he says "our emphasis is on helping people to both keep good records and to meet their tax obligations". A record-keeping practice statement can be found at www.ato.gov.au.


Tuesday, February 07, 2012
Queensland Business Review - AT A GLANCE
Home Weekly Insolvencies Book of Lists Queensland 400 Women in Business