Taxation Administration Act 1953

You are liable to an administrative penalty of 20 penalty units if:

a provision of a *taxation law requires you to keep or retain a record; and

you do not keep or retain that record in the manner required by that law.

Subsection (1) does not apply to:

documents required to be retained under Part X of the Fringe Benefits Tax Assessment Act 1986 (about statutory evidentiary documents); or

documents required to be kept or retained under Division 900 of the Income Tax Assessment Act 1997 (about substantiation of expenses); or

if you are given a *tax‑records education direction—documents to which a record‑keeping failure specified in the direction relates, unless you have not complied with the direction.

For paragraph (c):

for tax‑records education directions, see section 384‑12; and

for whether you have complied with the direction, see subsection 384‑15(3).

See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.