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 131-20   AMOUNT TO BE STATED IN A RELEASE AUTHORITY  

131-20(1)  
The amount to be released from one or more *superannuation interests under a release authority issued under section 131-15 must be:


(a) for a release authority issued under subsection 131-15(1) - the amount stated in the request; or


(b) otherwise - worked out so that the total amount stated for all release authorities for the applicable determination or assessment does not exceed:


(i) for a release authority issued under subsection 131-15(2) - the *total release amount stated in the determination referred to in that subsection; or

(ii) for a release authority issued under subsection 131-15(3) or (4) - the amount of tax stated in the assessment referred to in that subsection.

131-20(2)  
For the purposes of paragraph (1)(b), disregard an amount stated in another release authority to the extent that a notice given under subsection 131-50(2) states that the amount will not be paid.


 

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