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 133 - Division 293 tax  

Subdivision 133-C - Compulsory payment  

Debt account discharge liability

SECTION 133-105   LIABILITY TO PAY DEBT ACCOUNT DISCHARGE LIABILITY  

133-105(1)  
You are liable to pay the amount of your * debt account discharge liability for a * superannuation interest if the * end benefit for the interest becomes payable.

133-105(2)  
The liability arises:


(a) unless paragraph (b) applies - at the time the * end benefit becomes payable; or


(b) if the end benefit is a * superannuation death benefit - just before you die.

Note 1:

For paragraph (a), a release authority allows money to be released from the superannuation plan to pay this amount: see subsection 135-10(1) .

Note 2:

For paragraph (b), the debt will be recovered from your estate: see Subdivision 260-E .

133-105(3)  
Payment of your * debt account discharge liability for a * superannuation interest discharges your liability for so much of your total * assessed Division 293 tax for all income years as is * deferred to a debt account for the superannuation interest.




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