You need to keep the following information and records to support the PAYG withholding amounts you include in the PAYG tax withheld section of your business activity statement (BAS).
Information your records need to show |
Examples of types of records |
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The amounts you withheld from payments to employees and directors:
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The amounts you withheld from interest, dividend and royalty payments to foreign residents. |
A receipt, remittance advice or similar document containing:
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How long you need to keep PAYG withholding records
You need to keep these records 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.
You should keep records long enough to cover the period of review (also known as the amendment period) for an assessment that uses information from the record.
Record keeping
Steps | Progress | |||||||||||||
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Record keeping overview |
10 mins | |||||||||||||
Tasks and tips |
6 mins | |||||||||||||
Starting your business records |
2 mins | |||||||||||||
Digital record keeping |
5 mins | |||||||||||||
Manual or paper record keeping |
2 mins | |||||||||||||
Banking records |
2 mins | |||||||||||||
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Income records |
3 mins | |||||||||||||
Accounting for private use of assets |
9 mins | |||||||||||||
Motor vehicle deductions records |
2 mins | |||||||||||||
Home-based business deductions records |
1 mins | |||||||||||||
Other deductions records |
1 mins | |||||||||||||
Stock and asset records |
5 mins | |||||||||||||
GST records |
1 mins | |||||||||||||
Employee records |
7 mins | |||||||||||||
Car fringe benefits records |
1 mins | |||||||||||||
Expense payment FBT records |
2 mins | |||||||||||||
Contractor records |
2 mins | |||||||||||||
Sharing economy records |
1 mins | |||||||||||||
Cryptocurrency records |
1 mins | |||||||||||||
Records for other taxes |
5 mins | |||||||||||||
Sole trader structure records |
4 mins | |||||||||||||
Partnership structure records |
3 mins | |||||||||||||
Company structure records |
3 mins | |||||||||||||
Trust structure records |
1 mins | |||||||||||||
Changing your business structure records |
1 mins | |||||||||||||
Selling or closing your business records |
2 mins | |||||||||||||
Related courses |
1 mins | |||||||||||||
Course Feedback |
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