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).

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(Repealed by No 158 of 2012)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(Repealed by No 158 of 2012)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).

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).




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.