Income records suited to the trade
Keep revenue, purchases, expenses, assets and stock records supported by the required documents. The guide identifies cash-register totals, credit invoices, returns and goods withdrawn for private use. For prepaid treatment packages, customer records show the package price, sessions and utilisation so fees can be recognised as services are used under the described method. Training-course income has its own commencement-based treatment. A bank deposit total alone does not distinguish sales, unused package balances and other receipts.
Tax computation and the dated guide
The December 2020 publication covers allowable business costs, capital allowances, losses, MediSave and filing obligations. Personal expenses and asset purchase costs are distinguished from ordinary revenue deductions. Keep package and stock schedules linked to the annual accounts. Its older GST-registration description should be checked against the current calendar-year and prospective rules rather than applied unchanged. Simplified record keeping also requires all eligibility conditions, not merely a business below the stated revenue threshold.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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