Superannuation Industry (Supervision) Act 1993

PART 25A - TAX FILE NUMBERS  

Division 2 - Quotation, use and transfer of beneficiary's tax file number  

SECTION 299F   TRUSTEE MUST REQUEST PERSON WHO IS BENEFICIARY AT COMMENCEMENT TO QUOTE TAX FILE NUMBER  

299F(1)    

Subject to subsection (3), if:

(a) a person is a beneficiary of an eligible superannuation entity at the commencement of this section; and

(b) the person is not taken by section 299S or 299T to have quoted his or her tax file number to a trustee of the entity at or before that commencement;

each trustee must ensure that, before the required time (see subsection (2)) in relation to the beneficiary, a request is made, in a manner approved by the Regulator, to the person to quote his or her tax file number to a trustee of the entity in connection with the operation or the possible future operation of this Act or, if the request was not made before the commencement of Schedule 3 to the Superannuation Contributions Tax (Consequential Amendments) Act 1997 , the operation or the possible future operation of this Act and the Surcharge Acts.

299F(2)   Required time.  

The required time in relation to a beneficiary is the end of the 7th day after the day that is the starting day in relation to the beneficiary.

299F(3)   Exception.  

A trustee of the entity is not required to ensure that a request is made if the person has already quoted his or her tax file number to a trustee of the entity in connection with the operation or the possible future operation of:

(a) if the quotation was given before the commencement of Schedule 3 to the Superannuation Contributions Tax (Consequential Amendments) Act 1997 - this Act; or

(b) otherwise - this Act and the Surcharge Acts.

299F(4)    

A trustee commits an offence if the trustee contravenes subsection (1).

Penalty: 100 penalty units.

299F(4A)    

A trustee commits an offence if the trustee contravenes subsection (1). This is an offence of strict liability.

Penalty: 50 penalty units.

Note 1:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2:

For strict liability , see section 6.1 of the Criminal Code .

299F(5)   No obligation to quote tax file number.  

If a person requests another person to quote his or her tax file number under this section, the other person is not obliged to comply with the request.

299F(6)   Starting day - trustee required to give information to beneficiary.  

The starting day, in relation to a beneficiary of an eligible superannuation entity a trustee of which is required under Subdivision 2.4.2 or 2.4.3 of Division 2.4 of Part 2 of the Superannuation Industry (Supervision) Regulations to give information to the beneficiary, is the earlier of:

(a) the day referred to in whichever of the following subparagraphs is applicable:

(i) if the trustee chooses to act under this subparagraph in relation to the beneficiary - the day on which the information referred to in Subdivision 2.4.2 of Division 2.4 of Part 2 of those Regulations is first given to the beneficiary on or after the day on which this section commences;

(ii) if the trustee chooses to act under this subparagraph in relation to the beneficiary - the day on which the information referred to in Subdivision 2.4.3 of Division 2.4 of Part 2 of those Regulations is first given to the beneficiary on or after the day on which this section commences;

(iii) if the trustee does not choose to act under subparagraph (i) or (ii) in relation to the beneficiary - the day on which information referred to in either of those Subdivisions is first given to the beneficiary on or after the day on which this section commences; or

(b) the last day of the period of one year beginning on the day on which this section commences.

299F(7)   Starting day - trustee not required to give information to beneficiary.  

The starting day, in relation to a beneficiary of an eligible superannuation entity a trustee of which is not required, under Subdivision 2.4.2 or 2.4.3 of Division 2.4 of Part 2 of the Superannuation Industry (Supervision) Regulations to give information to the beneficiary, is the day on which this section commences.