Income Tax Assessment Act 1936

PART VA - TAX FILE NUMBERS  

Division 5 - Exemptions  

SECTION 202EC   ENTITIES NOT REQUIRED TO LODGE INCOME TAX RETURNS  

202EC(1)    

For the purposes of this Part, where:

(a) an entity that is not required to furnish to the Commissioner a return under section 161 in respect of a year of income is, at any time during that year, an investor in relation to an investment to which this Part applies; and

(b) the entity does not have a tax file number;

the entity shall be taken to have quoted its tax file number in connection with the investment if the investment body concerned is given the following information by the eligible representative in a manner approved by the Commissioner:

(c) the name and address of the entity;

(d) the reason why the entity is not obliged to furnish to the Commissioner a return under section 161 in respect of the year of income.

202EC(2)    
(Omitted by No 58 of 1990)

202EC(3)    
An entity that, as an entity that is not required to furnish to the Commissioner a return under section 161 in respect of a year of income, is to be taken, because of this section, to have quoted its tax file number in connection with an investment shall continue to be taken to have, because of this section, quoted the number in connection with the investment until 2 months after the end of the first year of income, following the time at which the entity is to be taken to have quoted the number, in respect of which the entity is required so to furnish a return.

202EC(4)    

Where an entity in respect of which information has been given to an investment body under subsection (1) in connection with an investment becomes obliged under section 161 to furnish a return in respect of a year of income, the person who is the public officer of the entity for the purposes of this Act commits an offence if:

(a) the entity is, at the end of the year of income, still an investor in relation to the investment; and

(b) the investment body is not, within 2 months after the end of the year of income, informed of the entity ' s tax file number or informed that the entity is obliged to furnish the return.

Penalty: 10 penalty units.

202EC(5)    
For the purposes of this section, a person is an eligible representative of an entity if the person is:

(a) where the entity is a body corporate - a person who is any one or more of the following:

(i) the public officer of the body corporate for the purposes of this Act;

(ii) an officer of the body corporate within the meaning of section 8Y of the Taxation Administration Act 1953 ;

(iii) a receiver of property of the body corporate, whether appointed by a court or otherwise and whether or not also a manager;

(iv) a liquidator of the body corporate appointed by a court;

(v) in the case of a foreign company within the meaning of the Corporations Act 2001 - a local agent of the company within the meaning of that Act;

(vi) an employee of the body corporate in relation to whom there is in force a written authorisation to act as an eligible representative of the body corporate, being an authorisation by a person who, when the authorisation was given, was an eligible representative of the body corporate by virtue of one or more of the preceding subparagraphs; or

(b) where the entity is an unincorporated association - a person who is any one or more of the following:

(i) the public officer of the unincorporated association for the purposes of this Act;

(ii) a director, secretary, office-holder, liquidator, receiver or trustee of the association;

(iii) an employee or member of the unincorporated association in relation to whom there is in force a written authorisation to act as an eligible representative of the unincorporated association, being an authorisation by a person who, when the authorisation was given, was an eligible representative of the unincorporated association by virtue of either or both of the preceding subparagraphs.