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 390-5   MEMBER INFORMATION STATEMENTS  

390-5(1)  


A *superannuation provider in relation to a *superannuation plan must give the Commissioner a statement in relation to an individual if the individual held a *superannuation interest in the plan at any time during the period specified in a determination under subsection (6).
Note 1:

Section 286-75 provides an administrative penalty for breach of this subsection.

Note 2:

A person may make a complaint to the Superannuation Complaints Tribunal under section 15CA of the Superannuation (Resolution of Complaints) Act 1993 if the person is dissatisfied with a statement given to the Commissioner by a superannuation provider under this section.

390-5(2)  
(Repealed by No 158 of 2012)

390-5(3)  
(Repealed by No 158 of 2012)

390-5(4)  
A statement under subsection (1) must be in the *approved form.

390-5(5)  
The statement must be given to the Commissioner on a day specified in the determination under subsection (6).

Note:

Section 388-55 allows the Commissioner to defer the time for giving an approved form.

390-5(6)  
The Commissioner may determine, by legislative instrument:


(a) the period mentioned in subsection (1); and


(b) the day on which a statement must be given to the Commissioner.

390-5(7)  
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.

390-5(8)  
Subsection (7) does not limit the way in which the determination may specify the period.

390-5(9)  
The *approved form may require the statement to contain the following information:


(a) information relating to the contributions made to the *superannuation plan, including the amount and type of the contributions;


(b) the *value of any *superannuation interest, or superannuation account, the individual held in the superannuation plan at a particular time;


(c) if no contributions were made to the superannuation plan in respect of the individual during the period - a statement to that effect.

390-5(9A)  


Treat the following as contributions for the purposes of this section:


(a) *notional taxed contributions in relation to a *defined benefit interest in the *superannuation plan;


(b) amounts, mentioned in subsection 291-25(3) or paragraph 292-90(4)(a) of the Income Tax Assessment Act 1997, allocated by the *superannuation provider in relation to the superannuation plan;


(c) amounts mentioned in paragraph 292-90(4)(c) of that Act;


(d) *defined benefit contributions in relation to a *defined benefit interest in the superannuation plan.

390-5(10)  
Subsection (9) does not limit the information that the *approved form may require the statement to contain.

390-5(11)  
The *approved form may require the statement to contain the *tax file number of:


(a) the *superannuation provider; and


(b) the *superannuation plan; and


(c) the individual who holds the *superannuation interest in the plan if:


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

(ii) a person has quoted the individual's tax file number to the superannuation provider (and had authority to do so).




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