• Instructions

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    About this authority

    You have received this compulsory release authority because we have issued you with an excess non-concessional contributions tax assessment.

    You must use it to authorise your super fund (other than a defined benefit interest fund) to withdraw funds from your super account equal to the assessed amount of excess non-concessional contributions tax.

    Attention

    You must complete sections A, B and C of this authority and send it to your super fund within 21 days of the issue date. Do not send the form to us. Your super fund will forward the form to us after they have completed sections D and E.

    End of attention
    Danger

    If your fund does not receive the authority within 21 days of the issue date, we may charge you penalties.

    If you do not send the authority to your super fund within 21 days of the issue date, we may contact your super fund directly and authorise it to withdraw funds from your super account equal to the assessed amount of excess non-concessional contributions tax.

    End of danger
    Attention

    If you have a defined benefit interest fund

    You cannot use this authority to withdraw an amount from a defined benefit interest fund. However, you can use it to withdraw an amount from other types of super funds even if you did not make contributions to that super fund during the year.

    If all your super is in a defined benefit interest fund, you cannot use this authority. You must pay the excess non-concessional contributions tax from other sources.

    End of attention

    This authority is only valid for 90 days after the issue date.

    What if you withdraw extra funds?

    Your super fund must tell us the amount it releases.

    Danger

    If you withdraw an amount greater than the amount of excess non-concessional contributions tax we have included on this authority:

    • we may charge you an administrative penalty of 20 penalty units
    • you will be taxed on this extra amount, as you must include it in your assessable income for the financial year in which you received it.
    End of danger
    Last modified: 26 Aug 2015QC 21076