A New Tax System (Indirect Tax and Consequential Amendments) Act (No. 2) 1999 (177 of 1999)
Schedule 8
Taxation Administration Act 1953
22 After subsection 70(1)
Insert:
(1A) If you choose to apply Division 63 (non-profit sub-entities) of the GST Act, you must:
(a) keep records that record:
(i) your choice to apply that Division; and
(ii) each branch that is treated as a separate entity for the purposes of the GST law; and
(iii) each branch that has ceased to be treated as a separate entity for the purposes of the GST law; and
(b) retain those records for at least 5 years after you revoke the choice.
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