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Taxation for Australian Businesses: Understanding Australian Business Taxation Concessions by Rod Caldwell

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CHAPTER 10 Putting it all together

Key areas we will cover in this chapter

  • li1.png Tax accounting
  • li1.png End of period processing

Defined term we will introduce

  • Tax accounting: keeping your business records in such a manner that they satisfy the Tax Office requirements
  • Trial Balance: an accounting report that lists the closing balance of all accounts for the period, used to prove all entries have balanced. Considered to be the end-point of the bookkeeping process.
  • Franking credit: the amount of tax paid by the company on the income they pay as a dividend ...

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