Tax Offences – VIC

Welcome to the VIC Requirement to keep proper records article page. Everything you need to know about Requirement to keep proper records according to VIC law.

What the Law States according to VIC Law for Requirement to keep proper records

According to VIC Law for the charge of Requirement to keep proper records,

Taxation Administration Act 1997 – SECT 50
PART 8 RECORD KEEPING AND GENERAL OFFENCES

Requirement to keep proper records

50. Requirement to keep proper records

(1) A person must keep, or cause to be kept, all records that are necessary to enable the person’s tax liability under a taxation law to be properly assessed.

Penalty: 500 penalty units in the case of a body corporate; 100 penalty units in any other case.

(2) This section does not affect a provision of any other taxation law concerning the keeping of records.

The Maximum Penalty – Requirement to keep proper records

According to VIC Law for the charge of Requirement to keep proper records, 100 – 500 penalty units.

What the Police must prove according to VIC Law for Requirement to keep proper records

That the body corporate or individual did not retain all of the documents essential to assessing tax liability.

Possible Defences under VIC Law – Requirement to keep proper records

Factual dispute

In VIC which court will hear the matter – Requirement to keep proper records

Federal Magistrates’ Court

 

Date: 09/01/2009