Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p4
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 4/9)
Character Range: 1717299–1720241

of the provision; and
 (c) primacy is not required to be given to the text of the provision.
Note: Ascertaining an intended purpose or object for the purposes of paragraph 370‑5(1)(a) or subparagraph 370‑5(1)(b)(i) is not necessarily the same as ascertaining a purpose or object for the purposes of interpreting a provision of an Act.

370‑15  Repeal of determinations
 (1) The Commissioner may, by legislative instrument, repeal a determination made under section 370‑5.
 (2) A legislative instrument made under subsection (1) of this section may make an application, saving or transitional provision relating to the repeal.
 (3) Subsection 33(3) of the Acts Interpretation Act 1901 does not apply in relation to the repeal, rescission or revocation of a determination made under section 370‑5 in this Schedule (but does apply in relation to the amendment or variation of such a determination).

370‑20  Commencement of determinations
  A determination made under section 370‑5, or a repeal made under section 370‑15, must not commence before the first day it is no longer liable to be disallowed, or to be taken to have been disallowed, under section 42 of the Legislation Act 2003.

Part 5‑25—Record‑keeping and other obligations relating to taxpayers

Division 382—Record‑keeping

Table of Subdivisions
 Guide to Division 382
382‑A Keeping records of indirect tax transactions
382‑B Record keeping obligations of deductible gift recipients
382‑C Keeping records in respect of Minimum Tax law

Guide to Division 382

382‑1  What this Division is about

      You are required to keep records of indirect tax transactions in accordance with this Division.
      Deductible gift recipients are required to keep records in accordance with this Division.

Subdivision 382‑A—Keeping records of indirect tax transactions

Table of sections
382‑5 Keeping records of indirect tax transactions

382‑5  Keeping records of indirect tax transactions

Records of transactions
 (1) You must:
 (a) keep records that record and explain all transactions and other acts you engage in that are relevant to a *supply, importation, acquisition, dealing, manufacture or entitlement to which this subsection applies; and
 (b) retain those records for the longest of:
 (i) 5 years after the completion of the transactions or acts to which they relate; and
 (ii) the *period of review for any assessment of an *assessable amount to which those records, transactions or acts relate; and
 (iii) if such an assessment has been amended under Subdivision 155‑B—the period of 4 years mentioned in paragraph 155‑70(2)(a) (which provides for a refreshed period of review) that applies to the latest such amendment.
 (2) Subsection (1) applies to:
 (a) a *taxable supply, *taxable importation, *creditable acquisition or *creditable importation made by you; or
 (b) a *supply made by you that is *GST‑free or *input taxed; or
 (c) a *taxable dealing, in relation to *wine,