21CPeriod of retention

21C Period of retention (1) A transferor who is required to keep a record under section 21B must retain the record for not less than 5 years after— (a) the date it was made or obtained; or (b) the date on which the dutiable transaction occurred— whichever is the later. 1. 500 penalty units in the case of a body corporate; 100 penalty units in any other case. s. 21C(1) inserted by No. 13/2013 s. 56(2). (2) Subsection (1) does not apply to a transferor if the Commissioner authorises them in writing to destroy the record before the end of the 5-year period. S. 21D inserted by No. 31/2008 s. 4.