According to VIC Law for the charge of Period of retention,

Taxation Administration Act 1997 - SECT 55

Period of retention

55. Period of retention

(1) A person who is required by a taxation law to keep a record must retain the record for not less than 5 years after-

(a) the date it was made or obtained; or

(b) the date of completion of the transaction or act to which it relates-

whichever is the later. Penalty: 500 penalty units in the case of a body corporate; 100 penalty units in any other case.

(2) Subsection (1) does not apply to a person if the Commissioner authorises them in writing to destroy the record before the end of the 5-year period.

According to VIC Law for the charge of Period of retention,

500 penalty units for a corporation

100 penalty units for a person

1. The accused was required by a taxation law to keep a record.

2. The accused did not retain the record for at least 5 years after the later of the date it was obtained, or date of the transaction to which it relates.

3. The Commissioner of Taxation did not authorise the person in writing to destroy the record.

Factual dispute

No requirement to keep a record

Authorisation to destroy

Magistrates Court