Taxation Administration Act 1953

135-40(1)
You may give the release authority to a * superannuation provider that holds a * superannuation interest for you within 120 days after the date of the release authority.

135-40(2)
You may request the * superannuation provider, in writing, to pay a specified amount in relation to the release authority.

Note 1:

For the amount that the provider pays under a release authority, see section 135-85 .

Note 2:

If excess amounts are paid in relation to a release authority:

(a) the excess is assessable income (see section 304-20 of the Income Tax Assessment Act 1997 ); and

(b) you are liable to an administrative penalty (see section 288-100 in this Schedule).

135-40(3)
However, a release authority issued under item 3 of the table in subsection 135-10(1) (for debt account discharge liability) may only be given to the * superannuation provider that holds the * superannuation interest to which the debt account relates.

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