New South Wales Consolidated Acts

TAXATION ADMINISTRATION ACT 1996 - SECT 48

48 Requirement to keep proper records

(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: 100 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.