Wool Tax (Administration) Act 1964 [ REPEALED]
For the purposes of this Act, a person who carries on business as a wool-broker or a manufacturer, is a wool-dealer or exports any wool shall:
(a) keep in the English language books or accounts recording particulars of all acts, transactions and operations in connexion with any wool, including the price received or paid for the wool;
(b) preserve any such books or accounts for a period of 5 years after the completion of the acts, transactions or operations to which they relate; and
(c) preserve any documents or papers relating to any acts, transactions or operations in connexion with wool for a period of 5 years after the completion of the acts, transactions or operations.
Penalty: 30 penalty units.
See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.
There is an administrative penalty if you do not keep or retain records as required by this section: see section 288-25 in Schedule 1 to the Taxation Administration Act 1953 .(1A)
An offence under subsection (1) is an offence of strict liability .
For strict liability , see section 6.1 of the Criminal Code .(2)
This section does not require the preservation by a person of any books, accounts, documents or papers:
(a) in respect of which the Commissioner has notified the person that their preservation is not required; or
(b) of a company that has gone into liquidation and has been finally dissolved.
A defendant bears an evidential burden in relation to the matters in subsection (2), see subsection 13.3(3) of the Criminal Code .