Document ID: chunk:federal_register_of_legislation:C2016C00974:clause:1_223
Version: federal_register_of_legislation:C2016C00974
Segment Type: clause
Provision Reference: sch 1 cl 223
Character Range: 69667–70315

223  Paragraph 382‑5(1)(b) in Schedule 1
Repeal the paragraph, substitute:
 (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.

Division 4—Transitional amendments

A New Tax System (Goods and Services Tax) Act 1999