Strafrisiko durch unvollständige Lager- und Nachverfolgungsaufzeichnungen

Definition

The ATO mandates that businesses keep records explaining all transactions, including stock on hand, purchases and sales, for 5 years after the records are prepared or obtained.[ATO‑record‑keeping] Failure to keep or retain records can result in administrative penalties under the Taxation Administration Act 1953 and default assessments where the Commissioner estimates taxable income. For small‑to‑medium businesses, administrative penalties for failing to keep records and for tax shortfalls due to lack of evidence can reach tens of thousands of dollars per year, scaled by entity size. Typical ATO shortfall penalties are 25% of the shortfall amount for lack of reasonable care and up to 75% for intentional disregard, plus the General Interest Charge.[ATO‑penalties] For a wholesaler where poor inventory records cause an under‑statement of taxable income of AUD 200k over several years (e.g. through mis‑stated closing stock), the additional tax may be ≈AUD 60k, with penalties 25–75% (≈AUD 15k–45k) and interest adding a further ≈AUD 5k–20k, giving a plausible audit hit of AUD 80k–125k.

Why This Matters

The Pitch: Australian 🇦🇺 wholesalers with weak inventory and lot records risk ATO shortfall penalties of 25–75% of under‑declared tax plus interest, easily reaching AUD 50k–250k in a single audit. Automating traceable stock and valuation records drastically reduces this exposure.

Affected Stakeholders

CFO, Financial Controller, Tax Manager, Warehouse Manager, External Accountant

Related Business Risks