67. Keeping of books of account and giving of receipts

must keep and retain in safe custody sufficient records for a period of 5 years from the year of assessment to which any income relates to enable the person’s income and allowable deductions under this Act to be readily ascertained by the Comptroller or any officer authorised in that behalf by the Comptroller; and

must, if the gross receipts from such trade, business, profession or vocation in the preceding calendar year exceeded $18,000 from the sale of goods, or $12,000 from the performance of services, issue a printed receipt serially numbered for every sum received in respect of goods sold or services performed in the course of or in connection with such trade, business, profession or vocation, and must retain a duplicate of every such receipt.

such machine automatically records all sales made; and

the total of all sales made in each day is transferred at the end of the day to a record of sales.

the form of the records to be kept under subsection (1)(a), and the manner in which such records must be kept and retained; and

the form of the receipts to be issued and the duplicates to be retained under subsection (1)(b), and the manner in which such receipts must be issued and such duplicates must be retained,and every such person is bound to comply with such notice.

books of account recording receipts or payments or income or expenditure;

invoices, vouchers, receipts, and such other documents as in the Comptroller’s opinion are necessary to verify the entries in any books of account; and

any records relating to any trade, business, profession or vocation.