TAXATION ADMINISTRATION ACT 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA.

Chapter 5 - Administration  

PART 5-25 - RECORD-KEEPING AND OTHER OBLIGATIONS RELATING TO TAXPAYERS  

Division 390 - Superannuation reporting  

Subdivision 390-A - Member information statements and roll-over superannuation benefit statements  

SECTION 390-10   STATEMENTS ABOUT ROLL-OVER SUPERANNUATION BENEFITS ETC.  

390-10(1)  
This section applies if:


(a) a *superannuation provider (the first provider ) in relation to a *superannuation plan (the first plan ) pays a *roll-over superannuation benefit to another superannuation provider in relation to another superannuation plan; or


(b) a superannuation provider (also the first provider ) in relation to a superannuation plan (also the first plan ) pays to another superannuation provider in relation to another superannuation plan a *superannuation benefit (other than a roll-over superannuation benefit) in these circumstances:


(i) the first plan or the other superannuation plan is, or both are, a *non-complying superannuation plan for the income year in which the benefit is paid; or

(ii) the first plan or the other superannuation plan was, or both were, a non-complying superannuation plan for the previous income year.

390-10(2)  
The first provider in relation to the first plan must:


(a) give the other superannuation provider a statement in relation to the benefit within 7 days after the day on which the benefit is paid; and


(b) unless the benefit is an *involuntary roll-over superannuation benefit, give the individual in respect of whom the benefit is paid a statement in relation to the benefit within 30 days after the day on which the benefit is paid.

390-10(3)  
A statement under subsection (2) must be in the *approved form.

390-10(4)  
The *approved form may require the statement to contain the following information:


(a) information relating to contributions made to the first plan in respect of the individual during the period specified in a determination under subsection (5) in which the benefit is paid, to the extent those contributions are reflected in that benefit;


(b) other information relating to the benefit, including the *tax free component, *taxable component, *element taxed in the fund and *element untaxed in the fund (as applicable) of the benefit.

390-10(5)  
The Commissioner may determine, by legislative instrument, the period mentioned in paragraph (4)(a).

390-10(6)  
The period specified in the determination:


(a) may be:


(i) all or part of an income year; or

(ii) all or part of a financial year; or

(iii) any other period; and


(b) may be different:


(i) for different kinds of *superannuation provider; and

(ii) in relation to any other matter.

390-10(7)  
Subsection (6) does not limit the way in which the determination may specify the period.

390-10(8)  
The *approved form may require the statement to contain different information depending on whether paragraph (1)(a) or (b) applies.

390-10(9)  
Subsections (4) and (8) do not limit the information that the *approved form may require the statement to contain.

390-10(10)  


The *approved form may require the statement to contain the *tax file number of:


(a) the first provider; and


(b) the first plan; and


(c) the individual in respect of whom the benefit is paid if:


(i) the individual has quoted the individual's tax file number to the first provider; or

(ii) a person who made at least some of the contributions mentioned in paragraph (4)(a) has quoted the individual's tax file number to the first provider (and had authority to do so).




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