“Success is most often achieved by those who don’t know that failure is inevitable.” — Coco Chanel
Be prepared and informed with these useful tools and resources or check out our FAQs list at the bottom of the page
Need to pay an invoice? You can now do so online with our integrated Westpac PayWay button. Simply enter your payment details along with your full name as the customer reference number and you’re all set!
There is a lot to think about when you hire an employee for the first time. To help
out, we’ve put together a checklist to assist you with managing your tax and
reporting obligations when you have employees.
- ATO Important dates
- ATO Tax withheld calculator
- ATO Super choice form
- ATO Small Business Newsroom
- ATO Small Business Motor Vehicle Expenses information
In the search business names register choose to search within box, select “check business name availability” enter the name in the box below and click go.
Other Useful Links
- Small Business Information
- Business Structure and Planning
- Business Grants Support
- Fairwork Australia
- Fairwork Information statement
- To find an award for your industry
- Single Touch Payroll for Employees
- Atticus Superannuation Checklist
- Atticus Superannuation Amnesty Fact Sheet
- Atticus JobKeeper Key Information Table
- Atticus JobKeeper 3.0 Amendment Guide
Please note the above links are provided for information only and do not constitute advice. Please consider whether this information is appropriate to your individual needs and circumstances and consult an expert accountant or financial planner for specific advice.
How Long should I keep my tax records for?
General tax records like receipts and invoices should be retained for 5 years from the date that you lodge your tax return.
However the legal statute of limitation is 7 years – meaning that if there is a legal matter, you may be required to produce your documents from anytime in the last 7 years. Whilst this is unlikely, we do recommend keeping them for 7 years just to be on the safe side.
Furthermore there are other requirements to keep in mind for specific documents:
ASSETS AND EQUIPMENT – invoices for the purchase of assets you claim depreciation for you should keep these for five years AFTER the last depreciation claim
PROPERTIES AND INVESTMENTS – contracts and documents relating the purchase of investments and properties you should keep this for five years AFTER the asset is sold
PAYROLL RECORDS – Wage records should be kept for 7 years. Documents relating to commencing employment and calculation of entitlements like long service leave should be kept for 7 years after the date of the employee ceasing.
You can find some more detailed information on keeping your tax records here: https://www.ato.gov.au/individuals/income-and-deductions/in-detail/keeping-your-tax-records/