Tax Laws Amendment (2011 Measures No. 9) Act 2012 (12 of 2012)

Schedule 1   Form for portability of superannuation

Retirement Savings Accounts Act 1997

9   At the end of Division 3 of Part 11

Add:

138A Portability forms

Requesting tax file numbers

(1) The Commissioner of Taxation may request a holder of an RSA to quote the holder’s tax file number to the Commissioner in connection with the operation, or the possible future operation, of a scheme prescribed for the purposes of section 39A (Portability forms).

(2) The holder is not obliged to comply with the request, but the regulations made for the purposes of that section may provide that failure to comply with the request affects whether the Commissioner may pass a request on to the provider of the RSA under the prescribed scheme.

Passing on tax file numbers

(3) The Commissioner of Taxation may inform the provider of an RSA of the tax file number of a holder of the RSA as part of the Commissioner passing on to the provider a request made by the holder under a scheme prescribed for the purposes of section 39A (Portability forms).

(4) If the Commissioner does so, the holder is:

(a) taken to have quoted the tax file number to the provider in connection with the operation or the possible future operation of this Act and the other Superannuation Acts; and

(b) taken to have quoted that tax file number at the time when the Commissioner of Taxation informs the provider of the tax file number.