A New Tax System (Tax Administration) Act (No. 2) 2000 (91 of 2000)
Schedule 2 Consequential and miscellaneous amendments
Part 1 General
Taxation Administration Act 1953
115 After section 288-20 in Schedule 1
Insert:
288-25 Penalty for failure to keep or retain records
(1) You are liable to an administrative penalty of 20 penalty units if:
(a) a provision of a *taxation law requires you to keep or retain a record; and
(b) you do not keep or retain that record in the manner required by that law.
(2) Subsection (1) does not apply to:
(a) documents required to be retained under Part X of the Fringe Benefits Tax Assessment Act 1986 (about statutory evidentiary documents); or
(b) documents required to be kept or retained under Division 900 of the Income Tax Assessment Act 1997 (about substantiation of expenses).
Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.
288-30 Penalty for failure to retain or produce declarations
You are liable to an administrative penalty of 20 penalty units if:
(a) a provision of a *taxation law requires you to retain or produce a declaration you made about an agent giving an *approved form to the Commissioner on your behalf; and
(b) you do not retain or produce that declaration in the manner required by that law.
Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.
288-35 Penalty for preventing access etc.
You are liable to an administrative penalty of 20 penalty units if:
(a) a provision of a *taxation law confers a power on an officer authorised under that law:
(i) to enter or remain on land, premises or a place that you occupy; or
(ii) to have access to documents, goods or other property in your possession; or
(iii) to inspect, copy or take extracts from documents in your possession; or
(iv) to inspect, examine, count, measure, weigh, gauge, test or analyse any goods or other property in your possession and, to that end, take samples; and
(b) you refuse to provide the officer with all reasonable facilities for the officer effectively to exercise that power in accordance with that law.
Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.