South Australian Consolidated Acts South Australian Consolidated Acts (1) A person required
to keep a record under a taxation law must keep the record for not less than
five years after—
(a) the
date it was made by the person or, if it was not made by the person, the date
it was obtained by the person; or
(b) if
it relates to a transaction, the date of completion of the transaction,
whichever is the later.
Maximum penalty: $10 000.
(2) A person may, with
the written approval of the Commissioner, destroy a record within the 5-year
period.
(3) A decision to
refuse approval under subsection (2) is a non-reviewable decision.
(4) This section is
subject to the provisions of any other law concerning the retention or
destruction of records.