Vacancy fee liability—requirement to keep records
115G Vacancy fee liability—requirement to keep records
Main requirement
The person must:
keep records, in accordance with subsection (2), that record and explain all transactions and other acts the person engages in that are relevant to the person’s liability for vacancy fees for each dwelling on the land in each vacancy year for the dwelling; and
retain those records for at least 5 years after the end of each such vacancy year.
Civil penalty: 500 penalty units.
Records in English
The records must be in English, or readily accessible and easily convertible into English.
Exception
This section does not require the person to retain a record if:
the Commissioner of Taxation notifies the person that the person does not need to retain the record; or
the person is a company that has been finally dissolved.
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