Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p5
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 5/9)
Character Range: 1719990–1722672

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, on which you are liable for *wine tax; or
 (d) any other assessable dealing within the meaning of the *Wine Tax Act made by you; or
 (e) your entitlement to a *wine tax credit; or
 (f) a *taxable supply of a luxury car, or a *taxable importation of a luxury car, made by you; or
 (g) your entitlement to a special credit under the A New Tax System (Goods and Services Tax Transition) Act 1999 or the A New Tax System (Wine Equalisation Tax and Luxury Car Tax Transition) Act 1999; or
 (h) if you are entitled to a *fuel tax credit for fuel that you acquire, manufacture or import—the acquisition, manufacture or importation; or
 (i) if you are liable, as a recipient of a taxable supply, to pay the *GST on a taxable supply because of section 15C of the A New Tax System (Goods and Services Tax Transition) Act 1999—the taxable supply.
 (3) If you give the Commissioner a return that takes into account:
 (a) an *input tax credit that is attributable to a *tax period under subsection 29‑10(4) of the *GST Act; or
 (b) a *fuel tax credit that is attributable to a tax period or *fuel tax return period under subsection 65‑5(4) of the Fuel Tax Act 2006;
you must:
 (c) keep records that record and explain all transactions and other acts you engage in that are relevant to the acquisition or importation in question; and
 (d) retain those records for at least 5 years after the return was given to the Commissioner.

Records of elections, choices, estimates, determinations and calculations
 (4) If you make any election, choice, estimate, determination or calculation under an *indirect tax law, you must:
 (a) keep records containing particulars of:
 (i) the election, choice, estimate, determination or calculation; and
 (ii) in the case of an estimate, determination or calculation—the basis on which, and the method by which, the estimate, determination or calculation was made; and
 (b) retain those records:
 (i) if the indirect tax law specifies circumstances in which the election, choice, estimate, determination or calculation ceases to have effect—for at least 5 years after the election, choice, estimate, determination or calculation ceased to have effect; or
 (ii) in any other case—for at least 5 years after the election, choice, estimate, determination or calculation was made.
 (5) This section requires a record of an *arrangement entered into under section 153‑50 of the *GST Act to be kept and retained by the