Retirement Savings Accounts Act 1997

PART 11 - TAX FILE NUMBERS  

Division 3 - Quotation, use and transfer of holder's tax file number  

SECTION 136   RSA PROVIDER MUST REQUEST PERSON BECOMING HOLDER OF AN RSA TO QUOTE TAX FILE NUMBER  

136(1)    

Subject to subsection (3), if:

(a) a person becomes a holder of an RSA; and

(b) the person has not quoted his or her tax file number to the RSA provider in connection with the operation or the possible future operation of this Act, or of this Act and the other Superannuation Acts, by the time he or she becomes a holder;

the RSA provider must, before the required time (see subsection (2)), request, in a manner approved by APRA, the person to quote his or her tax file number to the RSA provider 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 2 to the Superannuation Contributions Tax (Consequential Amendments) Act 1997 , the operation or possible future operation of this Act and the Superannuation Contributions Tax (Assessment and Collection) Act 1997 .

136(2)   Required time.  

The required time is the end of the 30th day after the day on which the person becomes a holder of an RSA.

136(3)   Exception.  

The RSA provider is not required to make the request if, before the request is made, and before the required time, the person quotes his or her tax file number to the RSA provider in connection with the operation or the possible future operation of:

(a) if the quotation was given before the commencement of Schedule 2 to the Superannuation Contributions Tax (Consequential Amendments) Act 1997 - this Act; or

(b) otherwise - this Act and the other Superannuation Acts.

136(4)   Offence.  

If the RSA provider intentionally or recklessly contravenes the requirement to make the request, it commits an offence punishable on conviction by a fine not exceeding 100 penalty units.

Note:

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

136(5)   No obligation to quote tax file number.  

If the RSA provider requests the person to quote his or her tax file number to the RSA provider, the person is not obliged to comply with the request.