If you have an interest in a FIF or FLP which is wholly or partly exempt from FIF taxation for a notional accounting period ending in your income year, you must keep records showing why the exemption applied. These records should include details of any acts, transactions, calculations and other circumstances relevant to the application of the exemption. [section 620]
You must keep records for each interest in a FIF or FLP for which you are claiming an exemption.
Additional records that you must keep for some of the exemptions are listed below.