Record services and receipts
Businesses providing tuition or assigning tutors must keep adequate accounts for five years. The guide includes tuition packages and agency commissions, so recording only cash left after paying tutors can omit gross transactions or confuse the agency’s role. Use invoices, receipts, payment vouchers and records of the services provided to support revenue. Individual sole proprietors and partners have personal reporting obligations, while an incorporated provider has separate corporate returns.
Reconcile costs and assets
The publication explains allowable expenses, adjusted profit, capital allowances and losses, with sample records and accounts in its appendices. Qualifying equipment is considered under capital-allowance rules; purchase cost and accounting depreciation are not automatically ordinary deductions. GST registration is a separate turnover-based responsibility. Some filing and concession references are older: use the assessment year’s current return instructions, expense rules and registration criteria when applying these examples.
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.
Read the official PDF ↗