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 - SUSTAINING THE SUPERANNUATION CONTRIBUTION CONCESSION  

Division 135 - Releasing money from superannuation  

Subdivision 135-C - Release of superannuation money under a release authority  

Operative provisions

SECTION 135-75   REQUIREMENT FOR SUPERANNUATION PROVIDER TO RELEASE MONEY  

135-75(1)  
If:


(a) a *superannuation provider has been given a release authority in accordance with Subdivision 135-B; and


(b) the amount mentioned in section 135-85 (the release amount ) is greater than nil;

the superannuation provider must pay the release amount within 30 days after receiving the release authority.

Who superannuation provider pays the amount to

135-75(2)  
The release amount must be paid to the Commissioner.

135-75(3)  
However, if the release authority was:


(a) issued under item 1 of the table in subsection 135-10(1) (which is about Division 293 tax that is due and payable within 21 days); and


(b) given to the *superannuation provider by the individual under section 135-40;

the release amount may be paid to the individual.

Which superannuation interest the amount is to be paid from

135-75(4)  
The payment must be made out of one or more *superannuation interests (other than a *defined benefit interest) held by the *superannuation provider for the individual.




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