INCOME TAX ASSESSMENT ACT 1936

PART III - LIABILITY TO TAXATION  

Division 6D - Provisions relating to certain closely held trusts  

Subdivision F - Special provisions about tax file numbers  

SECTION 102UV   TRUSTEE OF CLOSELY HELD TRUST MAY RECORD ETC. TAX FILE NUMBER  

102UV(1)   [ Application]  

This section applies if a trustee beneficiary in respect of:


(a) a share of the net income of a closely held trust for a year of income that is included in the assessable income of the trustee beneficiary of the trust under section 97 ; or


(b) a share of a tax-preferred amount of a closely held trust to which the trustee beneficiary of the trust is presently entitled at the end of a year of income;

quotes his or her tax file number to the trustee of the closely held trust in connection with that trustee making a correct TB statement about that share.

102UV(2)   [ Use of TFN]  

Section 8WB of the Taxation Administration Act 1953 does not prohibit the trustee of the closely held trust from:


(a) recording the tax file number or maintaining such a record; or


(b) using the tax file number in a manner connecting it with the identity of the trustee beneficiary; or


(c) divulging or communicating the tax file number to a third person;

in connection with that trustee making a correct TB statement about that share.


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