Superannuation Industry (Supervision) Act 1993

PART 25A - TAX FILE NUMBERS  

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History

Pt 25A inserted by No 76 of 1996.

Division 3A - Commissioner of Taxation may issue notices about tax file numbers  

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History

Div 3A heading substituted by No 158 of 2012, s 3 and Sch 4 item 21, effective 29 November 2012. The heading formerly read:

Division 3A - Incorrect quotation of tax file number

Div 3A inserted by No 9 of 2007 , s 3 and Sch 1 item 35, applicable to the 2007-2008 income year and later years.

SECTION 299TB   EFFECT OF INVALID QUOTATION OF TAX FILE NUMBER  

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299TB(1)    

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The Commissioner of Taxation (the Commissioner ) may give the trustee of an eligible superannuation entity or a regulated exempt public sector superannuation scheme a notice under subsection (2) if:

(a) the trustee has made a record of a number (the recorded TFN ) the trustee believes to be the tax file number of the beneficiary; and

(b) the Commissioner is satisfied that the recorded TFN:

(i) has been cancelled or withdrawn since it was quoted; or

(ii) is otherwise wrong; and

(c) the Commissioner is not satisfied that the beneficiary has a tax file number.

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History

S 299TB(1) amended by No 158 of 2012 (as amended by No 21 of 2015), s 3 and Sch 4 item 23, by inserting " of Taxation (the Commissioner ) " after " Commissioner " (first occurring), effective 29 November 2012.

299TB(2)    
The notice must identify the beneficiary and state that the Commissioner is not satisfied that the beneficiary has a tax file number.

299TB(3)    
If the Commissioner gives a notice under subsection (2), the Commissioner must give a copy of the notice to the beneficiary.

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History

S 299TB inserted by No 9 of 2007 , s 3 and Sch 1 item 35, applicable to the 2007-2008 income year and later years.

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