TAXATION ADMINISTRATION ACT 1953

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

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-20 - SUPERANNUATION  

Division 131 - Releasing money from superannuation  

Subdivision 131-A - Releasing money from superannuation  

Issuing a release authority to superannuation provider

SECTION 131-15   ISSUING RELEASE AUTHORITIES  

Issuing in response to a valid request

131-15(1)  
If you make a valid request under section 131-5 , the Commissioner must issue a release authority to each *superannuation provider that holds a *superannuation interest identified in the request. Issuing if you do not make a valid request in response to an excess non-concessional contributions determination etc.

131-15(2)  
If:


(a) on a particular day, the Commissioner issues you with:


(i) an *excess non-concessional contributions determination for a *financial year; or

(ii) a notice to which paragraph 131-5(4)(b) applies for such a determination; and


(b) within 60 days after that day, you do not make a valid request under section 131-5 for that determination;

the Commissioner may issue a release authority to one or more *superannuation providers that hold *superannuation interests for you.

Issuing if you are liable to pay excess non-concessional contributions tax

131-15(3)  
If you are given a notice of an *excess non-concessional contributions tax assessment for a *financial year, the Commissioner may issue a release authority to one or more *superannuation providers that hold *superannuation interests for you. Issuing if you have an unpaid amount of assessed Division 293 tax that is not deferred to a debt account

131-15(4)  
If:


(a) for an income year, you are given a notice of assessment of an amount of *Division 293 tax that is not *deferred to a debt account for a *superannuation interest; and


(b) on the 60th day after the day the Commissioner issues that notice, the sum of the following falls short of that amount of tax:


(i) any payments of that tax for the income year that you have already made;

(ii) any amounts that have already been released under this Subdivision for that assessment;

the Commissioner may issue a release authority to one or more *superannuation providers that hold superannuation interests for you.


 

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