Income Tax Assessment Act 1936
Pt VA inserted by No 97 of 1988.
Div 4A inserted by No 85 of 1998.
If the Commissioner is satisfied:
(a) that the tax file number quoted to an FMD provider in connection with a farm management deposit:
(i) has been cancelled or withdrawn since it was quoted; or
(ii) is otherwise wrong; and
(b) that the owner has a tax file number;
the Commissioner may give the FMD provider notice in writing of the owner's correct tax file number.
Archived:
S 202DM(2) repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 159, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .
S 202DM(1) amended by No 79 of 2010 , s 3 and Sch 4 items 31 and 32, by substituting " an FMD provider " for " a financial institution " in para (a) and substituting " the FMD provider " for " the financial institution " , applicable to assessments for: (a) the 2010-11 income year; and (b) later income years.
(a) the Commissioner is satisfied that the tax file number quoted to an FMD provider in connection with a farm management deposit:
(i) has been cancelled since it was quoted; or
(ii) is for any other reason not the owner's tax file number; and
(b) the Commissioner is not satisfied that the owner has a tax file number;
the Commissioner may give the FMD provider notice in writing accordingly.
S 202DM(3) amended by No 79 of 2010 , s 3 and Sch 4 items 33 and 34, by substituting " an FMD provider " for " a financial institution " in para (a) and substituting " the FMD provider " for " the financial institution " , applicable to assessments for: (a) the 2010-11 income year; and (b) later income years.
If a notice is given under subsection (3), the Commissioner must give the depositor a copy of the notice, together with a written statement of the reasons for the decision to give the notice.
202DM(5) Notice takes effect when given to owner.The notice takes effect on the day specified in the notice, being a day not earlier than the day on which the copy of the notice is given to the depositor.
202DM(6) Tax file number deemed not quoted.On and from the day on which the notice takes effect, the depositor is taken not to have quoted the owner's tax file number in connection with the deposit.
S 202DM inserted by No 85 of 1998.
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