Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
PART 3-20
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SUPERANNUATION
Division 133
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Division 293 tax
Subdivision 133-C
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Compulsory payment
Debt account discharge liability
SECTION 133-105 LIABILITY TO PAY DEBT ACCOUNT DISCHARGE LIABILITY 133-105(1)
You are liable to pay the amount of your * debt account discharge liability for a * superannuation interest if the * end benefit for the interest becomes payable.
133-105(2)
The liability arises:
(a) unless paragraph (b) applies - at the time the * end benefit becomes payable; or
(b) if the end benefit is a * superannuation death benefit - just before you die.
133-105(3)
Payment of your * debt account discharge liability for a * superannuation interest discharges your liability for so much of your total * assessed Division 293 tax for all income years as is * deferred to a debt account for the superannuation interest.
View history note
Hide history noteNote: See section 3AA .
Chapter 3 - Collection, recovery and administration of other taxesSECTION 133-105 LIABILITY TO PAY DEBT ACCOUNT DISCHARGE LIABILITY 133-105(1)
You are liable to pay the amount of your * debt account discharge liability for a * superannuation interest if the * end benefit for the interest becomes payable.
133-105(2)
The liability arises:
(a) unless paragraph (b) applies - at the time the * end benefit becomes payable; or
(b) if the end benefit is a * superannuation death benefit - just before you die.
Note 1:
For paragraph (a), a release authority allows money to be released from the superannuation plan to pay this amount: see subsection 135-10(1) .
Note 2:
For paragraph (b), the debt will be recovered from your estate: see Subdivision 260-E .
133-105(3)
Payment of your * debt account discharge liability for a * superannuation interest discharges your liability for so much of your total * assessed Division 293 tax for all income years as is * deferred to a debt account for the superannuation interest.
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