Income Tax Assessment Act 1936

PART X - ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES  

Division 11 - Keeping of records  

SECTION 467  

467   CIRCUMSTANCES WHERE RECORDS NOT REQUIRED TO BE KEPT - REASONABLE EXCUSE ETC.  

This Division does not require a person to keep a record of information if:

(a) the person did not know, and had no reasonable grounds to suspect, that section 462 , 462A or 464A , as the case requires, was applicable to the person; or

(b) the person did not know that, and made all reasonable efforts to ascertain whether, section 462 , 462A or 464A , as the case requires, was applicable to the person; or

(c) the person did not know, and made all reasonable efforts to obtain, the information.