FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART XII - INTERPRETATION  

SECTION 136AB   WHAT CONSTITUTES REASONABLE BELIEF THAT A SUPERANNUATION FUND IS A COMPLYING SUPERANNUATION FUND  

136AB(1)   [Person deemed to have reasonable grounds]  

Subject to subsection (2), if a person makes a payment to a superannuation fund, the person is taken, for the purposes of paragraph (j) of the definition of fringe benefit in subsection 136(1) , to have reasonable grounds for believing that the fund is a complying superannuation fund (as defined by the Income Tax Assessment Act 1997 ) if, at or before the time when the payment is made, the person has obtained a written statement, provided by or on behalf of the trustee of the fund, that the fund:


(a) is a resident regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993 ; and


(b) is not subject to a direction under section 63 of that Act.

136AB(2)   [Person deemed not to have reasonable grounds]  

A person who makes a payment to a superannuation fund is taken not to have reasonable grounds for believing that the fund is a complying superannuation fund if, when the payment is made:


(a) the person:


(i) is the trustee or the manager of the fund; or

(ii) is an associate of the trustee or the manager of the fund; and


(b) the person has reasonable grounds for believing that the fund is not a resident regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993 or is operating in contravention of a regulatory provision, as defined in section 38A of that Act.

136AB(3)   [Application of SIS Act]  

Section 39 of the Superannuation Industry (Supervision) Act 1993 applies for the purposes of subsection (2) of this section in a corresponding way to the way in which it applies for the purposes of Division 2 of Part 5 of that Act.




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