Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-20 - SUPERANNUATION  

Division 136 - Transfer balance cap  

Subdivision 136-B - Commutation authorities  

Obligations of superannuation income stream providers

SECTION 136-85   NOTIFYING THE COMMISSIONER  

136-85(1)    
A *superannuation income stream provider issued with a commutation authority under this Subdivision must notify the Commissioner of the amount of a *superannuation lump sum paid in accordance with the commutation authority.

136-85(2)    
If a *superannuation income stream provider chooses under subsection 136-80(2) or (3) not to comply with the commutation authority, the provider must notify the Commissioner of that choice.

136-85(3)    
A notice under this section must be in the *approved form and must be given within 60 days after the commutation authority is issued.

Note:

Section 286-75 provides an administrative penalty for breach of this subsection.





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