Document ID: chunk:federal_register_of_legislation:F2024L01568:clause:1_3
Version: federal_register_of_legislation:F2024L01568
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 147687–149198

3               For how long must the levy payer 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 levy is imposed

Note 1: 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.
Note 2: A person claiming a levy exemption has record‑keeping obligations, see clause 9‑6 of this Schedule.

9‑5  Obligations of collection agents
 (1) This clause sets out obligations that are imposed on a person if levy is imposed by clause 9‑6 of Schedule 1 to the Primary Industries (Excise) Levies Regulations 2024 on:
 (a) a transaction entered into by which the ownership of cattle is transferred in a calendar month because of a sale of the cattle by the levy payer to a business purchaser (whether directly or through a selling agent or buying agent or both) (the sale case); or
 (b) the slaughter of cattle in a calendar month at an abattoir where the levy payer is not the proprietor of the abattoir (the slaughter case).
Paragraph (a) does not apply to a sale of cattle from one cattle producer to another cattle producer.

Payment of equivalent amounts
 (2) For the purposes of subsection 10(1) of the Act, this table has effect.

Payment of equivalent amounts
Item                           Matter                                                                                                                                                           Rule