Retirement Savings Accounts Act 1997

PART 11 - TAX FILE NUMBERS  

Division 2 - Quotation of holder's tax file number  

SECTION 133   EMPLOYER MUST INFORM RSA PROVIDER OF TAX FILE NUMBER  

133(1)    

If:

(a) an employee:

(i) quotes or first quotes his or her tax file number to his or her employer in connection with the operation or the possible future operation of this Act and the other Superannuation Acts; or

(ii) quotes or first quotes his or her tax file number on or after 1 July 2007 to his or her employer in connection with the operation of Division 3 of Part VA of the Income Tax Assessment Act 1936 ; and

(b) after the employee quotes or first quotes the tax file number, the employer makes a contribution to an RSA for the benefit of the employee; and

(c) the employer has not previously informed the RSA provider of the employee ' s tax file number;

the employer must inform the RSA provider of the employee ' s tax file number before the required time (see subsection (2)).

Note:

Division 3 of Part VA of the Income Tax Assessment Act 1936 deals with quotation of tax file numbers by recipients of eligible PAYG payments.

133(2)    
The required time is:

(a) if the quotation or first quotation of the tax file number takes place more than 14 days before the employer makes the contribution - the end of the day on which the employer makes the contribution; or

(b) in any other case - the end of the 14th day after the day on which the quotation or first quotation of the tax file number takes place.

133(3)    

If the employer intentionally or recklessly contravenes subsection (1), the employer commits an offence punishable on conviction by a fine not exceeding 10 penalty units.

Note:

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