Taxation Administration Act 1953

Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).

Ch 5 title inserted by No 73 of 2006 , s 3 and Sch 5 item 44, effective 1 July 2006.

Pt 5-25 heading substituted by No 162 of 2015, s 3 and Sch 4 item 16, effective 30 November 2015. The heading formerly read:

PART 5-25 - RECORD-KEEPING AND OTHER OBLIGATIONS OF TAXPAYERS

Pt 5-25 inserted by No 91 of 2000.

Div 391 repealed by No 70 of 2015, s 3 and Sch 1 item 174, effective 1 July 2015.

Div 391 inserted by No 45 of 2008, s 3 and Sch 1 item 66, effective 26 June 2008.

Subdiv 391-B repealed by No 70 of 2015, s 3 and Sch 1 item 174, effective 1 July 2015.

Subdiv 391-B inserted by No 45 of 2008, s 3 and Sch 1 item 66, effective 26 June 2008.

S 391-10 repealed by No 70 of 2015, s 3 and Sch 1 item 174, effective 1 July 2015. S 391-10 formerly read:

SECTION 391-10 STATEMENTS ABOUT TRANSFER PAYMENTS BETWEEN FHSAs ETC.  
391-10(1)
This section applies if an *FHSA provider (the first provider ) in relation to an *FHSA (the first FHSA ) makes a payment from the FHSA:

(a) to an FHSA provided by another FHSA provider, in accordance with section 35 of the First Home Saver Accounts Act 2008 ; or

(b) to a *superannuation provider in relation to a *complying superannuation plan, in accordance with section 22 or 34 of that Act.

391-10(2)
The first provider must:

(a) give the other *FHSA provider or *superannuation provider a statement in relation to the payment within 7 days after the day on which the payment is made; and

(b) give the individual for whose benefit the payment is made a statement in relation to the payment within 30 days after the day on which the payment is made.

Note:

Section 286-75 provides an administrative penalty for breach of this subsection.

391-10(3)
A statement under subsection (2) must be in the *approved form.

Note:

Section 388-55 allows the Commissioner to defer the time for giving an approved form.

391-10(4)
The *approved form may require the statement to contain the following information:

(a) information relating to *personal FHSA contributions made to the first FHSA;

(b) information relating to the FHSA holder, including whether the individual is in breach of the account balance cap and whether the condition in subparagraph 32(1)(c)(i) of the First Home Saver Accounts Act 2008 has been met in relation to the individual.

391-10(5)
Subsection (4) does not limit the information that the *approved form may require the statement to contain.

391-10(6)
The *approved form may require the statement to contain the *tax file number of:

(a) the first provider; and

(b) the *FHSA holder.

S 391-10 inserted by No 45 of 2008, s 3 and Sch 1 item 66, effective 26 June 2008.