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 2   Retirement Savings Accounts Act 1997

Division 3   Tax file numbers

Retirement Savings Accounts Act 1997

42   At the end of Division 2 of Part 11

Add:

133A Use of tax file number to validate information

(1) This section applies if, after the commencement of this section, an employee:

(a) 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

(b) quotes his or her tax file number to his or her employer in connection with the operation of Division 3 of Part VA of the Income Tax Assessment Act 1936.

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.

(2) The employer 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 143E.