Prepare and keep the following documents:

• a statement of financial position
• a detailed operating statement
• livestock and produce accounts for primary producers
• notices and elections
• documents containing details of any estimate, determination or calculation made for the purpose of preparing the company tax return, together with details of the basis and method used in arriving at the amounts on the tax return
• a statement describing and listing the accounting systems and records, for example, chart of accounts that are kept manually and electronically.

If an audit or review is conducted, the ATO may request, and a company is expected to make available:

• a list and description of the main financial products (for example, bank overdrafts, bills, futures and swaps) that were used by the company to finance or manage its business activities during the income year
• for companies that have entered into transactions with associated entities overseas
  • an organisational chart of the company group structure
  • all documents, including worksheets, that explain the nature and terms of the transactions entered into.