Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Act 2026 (58 of 2026)

Schedule 2   Modernising tax administration systems

Income Tax Assessment Act 1936

1   Section 202DP

Repeal the section, substitute:

202DP Trustee must report quoted tax file number

(1) The trustee must report the beneficiary's tax file number to the Commissioner, in the approved form, if:

(a) the beneficiary is presently entitled, for the purposes of Division 6 of Part III, to a share of the income of the trust in respect of a year of income; and

(b) the beneficiary has quoted the beneficiary's tax file number to the trustee at any time before the trustee gives the Commissioner the trust's return of income for the year; and

(c) the trustee has not reported the beneficiary's tax file number to the Commissioner under Division 6D of Part III (about trustee beneficiary non-disclosure tax) in relation to the share of the income of the trust for the year.

(2) The trustee must give the report to the Commissioner no later than the earlier of the following, or within such further time as the Commissioner allows:

(a) the time the trustee gives the Commissioner the return;

(b) the time the return is required to be given to the Commissioner.

Note: Refusal or failure to report to the Commissioner as required by this section is an offence under section 8C of the Taxation Administration Act 1953.