Superannuation Industry (Supervision) Act 1993

PART 25A - TAX FILE NUMBERS  

Division 3A - Commissioner of Taxation may issue notices about tax file numbers  

SECTION 299TB   EFFECT OF INVALID QUOTATION OF TAX FILE NUMBER  

299TB(1)    

The Commissioner of Taxation (the Commissioner ) may give the trustee of an eligible superannuation entity or a regulated exempt public sector superannuation scheme a notice under subsection (2) if:

(a) the trustee has made a record of a number (the recorded TFN ) the trustee believes to be the tax file number of the beneficiary; and

(b) the Commissioner is satisfied that the recorded TFN:

(i) has been cancelled or withdrawn since it was quoted; or

(ii) is otherwise wrong; and

(c) the Commissioner is not satisfied that the beneficiary has a tax file number.

299TB(2)    
The notice must identify the beneficiary and state that the Commissioner is not satisfied that the beneficiary has a tax file number.

299TB(3)    
If the Commissioner gives a notice under subsection (2), the Commissioner must give a copy of the notice to the beneficiary.