Section 462A — Income Tax Assessment Act 1936: Keeping of records—section 457

Subject to this Division, where: (a) subsection 457(1) applies to a change of residence of a CFC; and (b) at the residence-change time referred to in that subsection, a person is an attributable taxpayer in relation to the CFC; the person must keep records (in Australia or elsewhere) containing particulars of: (c) the acts, transactions and other circumstances that resulted in the person being an attributable taxpayer in relation to the CFC at that time; and (d) the basis of the calculation of: (i) the direct attribution interest; and (ii) the aggregate of the indirect attribution interests; in the CFC held by the person at that time; and (e) the basis of the calculation of the attribution percentage of the person in relation to the CFC at that time; and (f) the basis of the calculation of the amount (including a nil amount) included in the assessable income of the person under section 457 in relation to the change of residence concerned.