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 133 - Division 293 tax  

Subdivision 133-C - Compulsory payment  

Debt account discharge liability

SECTION 133-125   NOTICE OF DEBT ACCOUNT DISCHARGE LIABILITY  

133-125(1)  


The Commissioner must give you a notice under this section if the *end benefit becomes payable from a *superannuation interest for which the Commissioner keeps a debt account.

133-125(2)  
The notice must state that you are liable to pay your * debt account discharge liability for the * superannuation interest and specify:


(a) the amount of that debt; and


(b) the day on which that debt is due and payable; and


(c) whether the amount of that debt is:


(i) the amount by which the debt account is in debit as mentioned in subsection 133-120(1) ; or

(ii) the end benefit cap mentioned in subsection 133-120(1A) .

133-125(3)  
If you are dissatisfied with a notice given under this section in relation to you, you may object against it in the manner set out in Part IVC of this Act.

133-125(4)  
However, you cannot object against a notice stating that the amount you are liable to pay is the amount by which the debt account is in debit, unless you are seeking to be liable to pay the end benefit cap specified in a notice given to the Commissioner by the * superannuation provider under subsection (2) or section 133-140 (as the case requires).


 

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