Superannuation Industry (Supervision) Act 1993
Pt 25A inserted by No 76 of 1996.
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.
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(i) has been cancelled or withdrawn since it was quoted; or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.
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.
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.
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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