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 139 - Access to perpetrators ' superannuation for victims of child abuse  

Subdivision 139-C - Releasing money following perpetrator contributions release orders  

Operative provisions

SECTION 139-135   OBLIGATIONS OF SUPERANNUATION PROVIDERS  

139-135(1)    
A * superannuation provider issued with a release authority under section 139-115 must, within 10 * business days after the release authority is issued (or a further period allowed by the Commissioner), pay to the Commissioner the lesser of:

(a)    the amount stated in the release authority; and

(b)    the sum of the * maximum available release amounts for each * superannuation interest held by the superannuation provider in * superannuation plans for the perpetrator.

Note 1:

Subsection 288-95(5) provides for an administrative penalty for failing to comply with this section.

Note 2:

For the taxation treatment of the payment, see section 139-170 .

Exception - defined benefit interests not subject to compulsory release

139-135(2)    
However, the * maximum available release amount for a * superannuation interest is not to be included in the sum worked out under paragraph (1)(b) if the interest is a * defined benefit interest.

Other exceptions

139-135(3)    
A * superannuation provider issued with a release authority under section 139-115 is not required to pay the Commissioner the amount mentioned in subsection (1) to the extent that doing so would be inconsistent with any of the following orders:

(a)    a forfeiture order mentioned in subregulation 5.08(1A) of the Superannuation Industry (Supervision) Regulations 1994 ;

(b)    a restraining order within the meaning of the Bankruptcy Act 1966 ;

(c)    a superannuation order under Part 2 of the Crimes (Superannuation Benefits) Act 1989 ;

(d)    a superannuation order under Division 2 of Part VA of the Australian Federal Police Act 1979 .

139-135(4)    
A * superannuation provider issued with a release authority under section 139-115 is also not required to pay the Commissioner the amount mentioned in subsection (1) if:

(a)    a payment flag (within the meaning of Part VIIIB or Part VIIIC of the Family Law Act 1975 ) is operating on the * superannuation interest; or

(b)    the superannuation provider is required to give the perpetrator a payment split notice under regulation 7A.03 of the Superannuation Industry (Supervision) Regulations 1994 and, at the time the release authority is issued:

(i) the superannuation provider has not given the notice; or

(ii) the superannuation provider has given the notice and any of the circumstances mentioned in subsection (5) apply; or

(c)    the superannuation provider:

(i) has been given a request under regulation 7A.03C , 7A.03D , 7A.03E , 7A.05 , 7A.06 or 7A.07 of the Superannuation Industry (Supervision) Regulations 1994 ; and

(ii) is required under regulation 7A.03G or 7A.09 of those Regulations to give effect to the request; and

(iii) has not given effect to the request.

139-135(5)    
For the purposes of subparagraph (4)(b)(ii) , the circumstances are:

(a)    the period by which a request mentioned in subparagraph (4)(c)(i) must be made has not ended; or

(b)    the period by which a request mentioned in subparagraph (4)(c)(i) must be made has ended and the superannuation provider:

(i) has not been given a request; and

(ii) intends to take an action mentioned in subregulation 7A.03H(1) or (4) or 7A.10(1) of the Superannuation Industry (Supervision) Regulations 1994 .