Requirement to keep proper records

Current

(1)

A person must keep, or cause to be kept, such records as are necessary to enable the person’s tax liability under a taxation law to be properly assessed.

Maximum penalty—250 penalty units.

(2)

This section does not affect a provision of any other taxation law concerning the keeping of records.

Note.

A person who is required by a taxation law to keep a record may include other information in the record for the person’s own use.

This Act’s bill:Explanatory memorandum Second reading speech

Research tools for this sectionSubscription

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.

48 Requirement to keep proper records