Document ID: chunk:federal_register_of_legislation:F2024L01568:clause:2_3
Version: federal_register_of_legislation:F2024L01568
Segment Type: clause
Provision Reference: sch 2 cl 3
Character Range: 438475–439453

3               For how long must the person keep the records?  Until the end of the period of 5 years beginning on the day after the end of the financial year in which the logs are sold or processed

Note: Section 18 of the Act contains an offence and a civil penalty for failing to make or keep the records in accordance with this instrument.

31‑3  Obligations of persons claiming levy exemption
  For the purposes of paragraph 59(2)(c) of the Act, this table has effect if:
 (a) logs are produced from trees felled in Australia; and
 (b) in a financial year the logs are sold by, or processed for a commercial purpose by or for, the person who owns the logs immediately after the trees from which the logs are produced are felled; and
 (c) the person considers that an exemption from levy applies under clause 31‑2 of Schedule 2 to the Primary Industries (Excise) Levies Regulations 2024.

Record‑keeping
Item            Matter                                          Rule