Taxation Administration Act 1953
View history note
Hide history noteNote: See section 3AA .
Chapter 5 - AdministrationA *superannuation provider in relation to a *superannuation plan must give the Commissioner a statement under this section if the superannuation provider has:
(a) been given a release authority in accordance with:
(i) (Repealed by No 81 of 2016)
(ii) section 292-80B of the Income Tax (Transitional Provisions) Act 1997 ; or
(iii) Subdivision 135-B in this Schedule; and
(b) paid an amount out of the plan in accordance with the release authority.
Note:
Section 286-75 provides an administrative penalty for breach of this subsection.
390-65(2)
The statement must be given within 30 days after the amount is paid out of the plan.
390-65(3)
A statement under subsection (1) must be in the *approved form.
Note:
Section 388-55 allows the Commissioner to defer the time for giving an approved form.
390-65(4)
The *approved form must require the statement to contain information relating to the release authority.
390-65(5)
The *approved form may require the statement to contain the following information:
(a) the amount paid;
(b) details relating to the *superannuation provider in relation to the *superannuation plan;
(c) the individual in respect of whom the release authority was given to the superannuation provider.
390-65(6)
Subsection (5) does not limit the information that the *approved form may require the statement to contain.
390-65(7)
The *superannuation provider must also give the individual to whom the release authority relates a copy of the statement within 30 days after the amount is paid out of the plan.
Note:
Section 286-75 provides an administrative penalty for breach of this subsection.
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