114
CurrentRequirement to keep proper records
Part 9Record keeping
114 Requirement to keep proper records
(1)
A person must keep the records necessary to enable the person’s tax law liability to be ascertained.
Maximum penalty—100 penalty units.
(2)
For subsection (1), the commissioner may, by written notice given to a person, require the person to keep a particular record stated in the notice for a stated revenue law.
(3)
The person must not fail, without reasonable excuse, to comply with the notice.
Maximum penalty—100 penalty units.
(4)
A person who, under a notice given under a revenue law, is required to keep a stated record must comply with the requirement.
Maximum penalty—100 penalty units.
This Act’s bill:Explanatory memorandum
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