Taxation Laws Amendment Act (No. 3) 1998 (47 of 1998)

Schedule 6   CGT asset register

Income Tax Assessment Act 1936

5   At the end of section 160ZZU

Add:

(9) If:

(a) a person (the record keeper ) is required by subsection (1), (3), (6A) or (6B) to keep records containing particular information; and

(b) the record keeper makes an entry in a register, in English, setting out some or all of the information; and

(c) a registered tax agent (within the meaning of section 251A) or other person approved by the Commissioner certifies in the register that the information entered is information from those records (so long as the person certifying is not the record keeper); and

(d) the record keeper retains the records that contain the information entered for at least 5 years after the entry is certified;

the entry is an asset register entry for those records.