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 136-90   NOTIFYING YOU  

136-90(1)  
A *superannuation income stream provider issued with a commutation authority under this Subdivision must notify you if the superannuation income stream provider:


(a) pays a *superannuation lump sum in accordance with the commutation authority; or


(b) chooses under subsection 136-80(2) not to comply with the commutation authority.

136-90(2)  
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.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.