Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-1 - THE AUSTRALIAN TAXATION OFFICE  

Division 354 - Power to obtain information about rights or interests in property  

SECTION 354-5   POWER TO OBTAIN INFORMATION ABOUT RIGHTS OR INTERESTS IN PROPERTY  

354-5(1)    
The Commissioner may by notice in writing require you to give the Commissioner information required for the purpose of the administration or operation of a *taxation law if:

(a) both of the following apply:

(i) you have a legal or equitable interest in real or personal property;

(ii) the information is about any other *property right or interest in the property; or

(b) both of the following apply:

(i) the Commissioner is satisfied that you may have information about a property right or interest in property;

(ii) the information is about the property right or interest.

Note:

Failing to comply with a requirement may be an offence under section 8C .

354-5(2)    
A property right or interest is:

(a) a legal or equitable interest in the property; or

(b) a right, power or privilege in connection with the property;

whether present or future and whether vested or contingent.

Content of notice

354-5(3)    
The notice must specify the following:

(a) the property to which the notice applies;

(b) the information required;

(c) the period within which the information must be given;

(d) the manner of giving the information.

354-5(4)    
The information required may include the following:

(a) details of your interest in the property;

(b) details (including name and address) of any person who has a *property right or interest in the property;

(c) details of any class of person who has a property right or interest in the property;

(d) details of each property right or interest in the property, including:

(i) the nature and extent of the right or interest; and

(ii) the circumstances giving rise to the right or interest.

354-5(5)    
If:

(a) you are given a notice under paragraph (1)(a); and

(b) you do not have the information required but another person has the information;

you must make all reasonable efforts to obtain the information.

354-5(6)    
To avoid doubt, you may be required as a result of a notice under this section to create a document giving the information required.

354-5(7)    
The period specified in the notice must be:

(a) at least 14 days after the notice is given (except if paragraph (b) applies); or

(b) if the Commissioner is satisfied that a shorter period is necessary - the shorter period.

Relationship with section 353-10

354-5(8)    
Nothing in this section affects the operation of section 353-10 and nothing in that section affects the operation of this section.