Superannuation Contributions and Termination Payments Taxes Legislation Amendment Act 1997 (191 of 1997)

Schedule 4   Amendment of the Superannuation Contributions Tax (Assessment and Collection) Act 1997

25   After section 14

Insert:

14A Commissioner may require member to provide information as to the holder of the member’s surchargeable contributions

(1) The Commissioner may, at any time and from time to time, by written notice served on a member, require the member to give the Commissioner, within a period stated in the notice (being a period of not less than 21 days from the date of service of the notice), a statement setting out:

(a) the name and address of any person who is the holder of surchargeable contributions of the member; and

(b) any other matters required by the regulations.

(2) A person on whom such a notice is served must not fail to comply with the notice.

Penalty: 50 penalty units.

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2: The amount of a penalty unit is stated in section 4AA of the Crimes Act 1914. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine that is not greater than 5 times the maximum fine that could be imposed by the court on an individual convicted of the same offence.