Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Act 2012 (158 of 2012)

Schedule 4   Improving efficiency and data quality in the superannuation system

Part 1   Superannuation Industry (Supervision) Act 1993

Division 3   Tax file numbers

Superannuation Industry (Supervision) Act 1993

20   After section 299LA

Insert:

299LB Use of tax file number to validate information

(1) This section applies if a person who is a beneficiary of an eligible superannuation entity, or of a regulated exempt public sector superannuation scheme, or an applicant to become such a beneficiary, quotes his or her tax file number to a trustee of the entity or scheme in connection with the operation, or the possible future operation, of this Act and the other Superannuation Acts.

(2) The trustee may use the tax file number in a manner connecting it with the person's identity for the purpose of asking the Commissioner of Taxation to validate information about the person under section 299TD.