History
S 391-5(1) amended by No 92 of 2008.
S 391-5 repealed by No 70 of 2015, s 3 and Sch 1 item 174, effective 1 July 2015. S 391-5 formerly read:
SECTION 391-5 FHSA ACCOUNT ACTIVITY STATEMENTS
391-5(1)
An *FHSA provider must give the Commissioner the following statements under this section:
(a)
a statement in relation to the amount of *personal FHSA contributions (if any) made to each *FHSA provided by the provider during the period mentioned in subsection (3) for that kind of statement;
(b)
a statement in relation to the balance of an FHSA provided by the provider during the period mentioned in subsection (3) for that kind of statement;
(c)
a statement in relation to each FHSA opened or issued (if any) by the provider during the period specified in subsection (3) for that kind of statement;
(d)
a statement in relation to each FHSA closed (if any) by the provider during the period specified in subsection (3) for that kind of statement;
(e)
a statement in relation to payments (other than a payment of a kind mentioned in subparagraph 31(1)(b)(iii) or paragraph (1)(f), (g) or (h) of the
First Home Saver Accounts Act 2008
) (if any) made from each FHSA provided by the provider during the period specified in subsection (3) for that kind of statement.
Note:
Section 286-75 in Schedule 1 to the
Taxation Administration Act 1953
provides an administrative penalty for breach of any of these paragraphs. A breach of any of these paragraphs may also be an offence under section 8C of that Act.
History
S 391-5(1) amended by No 92 of 2008, s 3 and Sch 1 item 25, by substituting
"
, (g) or (h)
"
for
"
or (g)
"
, applicable from 1 October 2008.
391-5(2)
However, the provider is not required to give a statement mentioned in paragraph (1)(a) if, during the period, the provider transferred the balance of the *FHSA to another FHSA.
391-5(3)
The period for a particular kind of statement under subsection (1) is:
(a)
a financial year; or
(b)
if the Commissioner determines another period under subsection (4) for the kind of statement
-
that period.
391-5(4)
The Commissioner may determine, by legislative instrument, a period mentioned in subsection (1) for a kind of statement.
391-5(5)
A statement under subsection (1) must be in the *approved form.
391-5(6)
A statement must be given to the Commissioner on or before a day specified in the determination under subsection (7) for the statement.
Note:
Section 388-55 allows the Commissioner to defer the time for giving an approved form.
391-5(7)
The Commissioner may determine, by legislative instrument, the day, on or before which, a statement under subsection (1) must be given to the Commissioner.
391-5(8)
The day specified in the determination may be different:
(a)
for different kinds of *FHSA provider; and
(b)
in relation to any other matter.
391-5(9)
Subsection (8) does not limit the way in which the determination may specify the day.
391-5(10)
The *approved form may require a statement to contain the following:
(a)
the *tax file number of the *FHSA holder;
(b)
the tax file number of the *FHSA provider.
391-5(11)
Subsection (10) does not limit the information that the *approved form may require a statement to contain.
S 391-5 inserted by No 45 of 2008, s 3 and Sch 1 item 66, effective 26 June 2008.
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