DURING PERIOD refers to actual hours worked, injuries or lost days during the actual period that the data is being calculated. 2. The number of hours worked includes all part time or seasonal workers, overtime and Z-time. It does not include time paid which is not. worked such as vacation, holiday, illness, leave of absence or unassigned days. 3. The number of cases with lost work time as defined by OSHA.
For example your company is obliged to keep all information relevant for VAT purposes for as long as six years. That means that any emails dealing with VAT must be kept for that period as a minimum. Of course financial records arenât the only pieces of information subject to these kinds of laws.
Record keeping is a legal requirement. By law you must keep business records for at least five years, either on paper or electronically. They must be in English or in a form that can easily be converted.If you don't keep the right tax records, you can incur penalties.ip. Keep your records electronically, using accounting software approved by the ATO. It takes more time to set up at the beginning but it has advantages like automatic calculations of earnings and profits. Remember-you can also claim the cost of record keeping software as a business tax deduction.