Your records must establish the connection between the expenditure and the income reported in your tax return. A well kept set of records may make the difference between the ATO investigating you further or moving on to another taxpayer.

You should ensure that you can produce accurate records which show the circumstances in which the expenditure was incurred.

You should also ensure that where you have adopted a position in relation to the operation or interpretation of the law you have documented your reasons and can justify that your position is "reasonably arguable".

This issue is coming up time after time in the cases we report.

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