Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An entity must keep records under this section for a * group ratio that the entity worked out for the purposes of this Division.
(2) The records must:
(a) contain particulars that have been taken into account in working out the * group ratio; and
(b) be sufficient for a reasonable person to understand how the group ratio has been worked out.
(3) The entity must prepare the records before the earlier of the following times:
(a) the time by which the entity must lodge its * income tax return for the income year in relation to all or a part of which the amount is worked out;
(b) the time at which the entity lodges its * income tax return for that income year.
Note: A person must comply with the requirements in section 262A of the Income Tax Assessment Act 1936 about the keeping of these records (see subsections (2AA) and (3) of that section).