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Notes Online Home 2016 Income Tax Basics Day 2 Overview
In these notes we aim to familiarise readers with, and give them the skills to complete a basic company, partnership or trust tax return – the ‘Business Return’.
These Income Tax Basics Day 2 notes aim to guide you through the preparation of income tax returns from an entity’s financial statements. In this overview segment we discuss the following broad topics:
- Australia’s self-assessment system;
- Preparing the business return;
- The Small Business Entity regime;
- The Personal Services Income rules; and
- Record keeping requirements.