(1) A person must keep, or cause to be kept, all records that are necessary to enable the person's tax liability under a taxation law to be properly assessed.
Penalty: 500 penalty units in the case of a body corporate;
100 penalty units in any other case.
Note to s. 50(1)
inserted by No. 13/2013 s. 46(3).
Note
Section 130B applies to an offence against this subsection.
(2) This section does not affect a provision of any other taxation law concerning the keeping of records.