Australian Capital Territory Numbered Acts

TAXATION ADMINISTRATION ACT 1999 (NO. 4 OF 1999) - SECT 64

(1)     A person who is required by a tax law to keep a record shall retain 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.

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 retained for not less than 5 years.

Division 2—General offences