Taxation Administration Act 1953
View history note
Hide history noteNote: See section 3AA .
Chapter 3 - Collection, recovery and administration of other taxesSECTION 135-75 REQUIREMENT FOR SUPERANNUATION PROVIDER TO RELEASE MONEY 135-75(1)
If:
(a) a * superannuation provider has been given a release authority in accordance with Subdivision 135-B ; and
(b) the amount mentioned in section 135-85 (the release amount ) is greater than nil;
the superannuation provider must pay the release amount within 30 days after receiving the release authority.
Who superannuation provider pays the amount to
135-75(2)
The release amount must be paid to the Commissioner.
135-75(3)
(Repealed by No 81 of 2016)
Note 1:
Section 288-95 provides for an administrative penalty for failing to comply with this section.
Note 2:
For the taxation treatment of the payment, see sections 303-20 and 304-20 of the Income Tax Assessment Act 1997 .
Note 3:
For reporting obligations on the superannuation provider in these circumstances, see section 390-65 in this Schedule.
Which superannuation interest the amount is to be paid from
135-75(4)
The payment must be made out of one or more * superannuation interests (other than a * defined benefit interest) held by the * superannuation provider for the individual.
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