As your business grows or changes, you may decide to change your business structure. If you change your business structure, you will need to keep records of any decisions you make that affect your tax, super or employer obligations. 

If you change the structure of your business, ensure you understand the obligations of the new structure. 

Your records need to include information showing that: 

• appropriate controls and processes are in place to support compliance with tax, super and employer obligations and identify, assess and mitigate commercial and tax risks 
• material transactions are well documented and subject to appropriate review and sign-off for tax risk purposes. 

These types of records need to be kept for 5 years starting from when you prepared or obtained the records, or when you completed the transactions the records relate to, whichever is later.