Australian Capital Territory Consolidated Acts

TAXATION ADMINISTRATION ACT 1999 - SECT 64

    (1)     A person who is required by a tax law to keep a record must keep the record for not less than 5 years after—

        (a)     the date it was made or obtained; or

        (b)     the date of completion of the transaction or act to which it relates;

whichever is the later.

Maximum penalty: 20 penalty units.

    (2)     A person may, with the written approval of the commissioner, destroy a record within the 5 year period unless another law requires the record to be kept for not less than 5 years.