sec.91Period for keeping particular records relating to fringe benefits tax

### sec.91 Period for keeping particular records relating to fringe benefits tax This section applies to an employer who elects under a regulation to include in returns estimated value amounts for fringe benefits. The employer must keep a record of the fringe benefits paid or payable by the employer during the financial year in which the election is made. The person must keep the record until 5 years has elapsed after the earlier of the following— the employer lodges a final return; the employer elects under a regulation to include in returns actual value amounts for fringe benefits. Maximum penalty—100 penalty units. The Administration Act , section 118 , does not apply to the keeping of the record. s 91 ins 2004 No. 46 s 30 (sec.91-ssec.1) This section applies to an employer who elects under a regulation to include in returns estimated value amounts for fringe benefits. (sec.91-ssec.2) The employer must keep a record of the fringe benefits paid or payable by the employer during the financial year in which the election is made. (sec.91-ssec.3) The person must keep the record until 5 years has elapsed after the earlier of the following— the employer lodges a final return; the employer elects under a regulation to include in returns actual value amounts for fringe benefits. Maximum penalty—100 penalty units. (sec.91-ssec.4) The Administration Act , section 118 , does not apply to the keeping of the record. - (a) the employer lodges a final return; - (b) the employer elects under a regulation to include in returns actual value amounts for fringe benefits.