PART 25A
-
TAX FILE NUMBERS
History
Pt 25A inserted by No 76 of 1996.
Division 2
-
Quotation, use and transfer of beneficiary's tax file number
SECTION 299L
USE OF TAX FILE NUMBER FOR CERTAIN PURPOSES
-
APPLICANTS TO BECOME BENEFICIARIES OF REGULATED EXEMPT PUBLIC SECTOR SUPERANNUATION SCHEMES
299L(1)
This section applies if a person who is an applicant to become a beneficiary of a regulated exempt public sector superannuation scheme quotes his or her tax file number to a trustee of the scheme in connection with the operation or the possible future operation of this Act and the other Superannuation Acts.
History
S 299L(1) amended by No 53 of 2004, s 3 and Sch 2 item 333, by substituting
"
to a trustee
"
for
"
to the trustee
"
, effective 1 July 2004.
S 299L(1) amended by No 128 of 1999, s 3 and Sch 1 item 60, by substituting
"
other Superannuation
"
for
"
Surcharge
"
, effective 13 October 1999. For transitional and application provisions, see the history note to s 2(3).
S 299L(1) amended by No 71 of 1997.
299L(2)
Trustee may record tax file number.
If the trustee, or the trustees, do not already have a record of the tax file number, a trustee of the scheme may make a record of it.
History
S 299L(2) amended by No 53 of 2004, s 3 and Sch 2 items 334 and 335, by substituting
"
the trustee, or the trustees, do
"
for
"
the trustee does
"
and substituting
"
a trustee of the scheme may
"
for
"
the trustee may
"
, effective 1 July 2004.
299L(3)
Obligation to retain and later destroy tax file number.
Each trustee of the scheme must ensure that:
(a)
the record is retained until the time (the
last retention time
) at which:
(i)
if the person becomes a beneficiary of the scheme
-
the person ceases to be a beneficiary of the scheme; or
(ii)
if not
-
the person ceases to be an applicant; and
(b)
the record is destroyed as soon as is reasonably practicable after the last retention time.
History
S 299L(3) substituted by No 53 of 2004, s 3 and Sch 2 item 336, effective 1 July 2004. S 299L(3) formerly read:
299L(3)
Obligation to retain and later destroy tax file number.
The trustee must:
(a)
retain the record until the time (the
last retention time
) at which:
(i)
if the person becomes a beneficiary of the scheme
-
the person ceases to be a beneficiary of the scheme; or
(ii)
if not
-
the person ceases to be an applicant; and
(b)
destroy the record as soon as is reasonably practicable after the last retention time.
299L(4)
(Repealed by No 41 of 2011)
History
S 299L(4) repealed by No 41 of 2011, s 3 and Sch 3 item 10, applicable to the use of tax file numbers on or after 1 July 2011, whether the tax file numbers were quoted before, on or after 1 July 2011. S 299L(4) formerly read:
299L(4)
Use of tax file numbers to locate amounts.
Subject to subsection (5), a trustee may use tax file numbers quoted to a trustee as mentioned in subsection (1) in order to locate, in the records or accounts of the scheme, amounts held for the benefit of persons.
S 299L(4) amended by No 53 of 2004, s 3 and Sch 2 item 337, by substituting
"
a trustee
"
for
"
the trustee
"
(wherever occurring), effective 1 July 2004.
299L(5)
(Repealed by No 41 of 2011)
History
S 299L(5) repealed by No 41 of 2011, s 3 and Sch 3 item 10, applicable to the use of tax file numbers on or after 1 July 2011, whether the tax file numbers were quoted before, on or after 1 July 2011. S 299L(5) formerly read:
299L(5)
Use of tax file numbers to identify amounts held for the benefit of a particular person.
If a trustee of the scheme needs to identify the amounts held for the benefit of a particular person:
(a)
the trustee must first use information (other than tax file numbers) to identify the amounts; and
(b)
the trustee may only use the tax file number quoted by the person to a trustee of the scheme:
(i)
if the information referred to in paragraph (a) is insufficient to identify the amounts; or
(ii)
to confirm the identification of the amounts resulting from the use of the other information.
S 299L(5) amended by No 53 of 2004, s 3 and Sch 2 items 338 and 339, by substituting
"
If a trustee of the scheme
"
for
"
If the trustee
"
and substituting
"
to a trustee of the scheme
"
for
"
to the trustee
"
in para (b), effective 1 July 2004.
299L(6)
Offences.
A trustee of the scheme commits an offence if a requirement of subsection (3) is contravened by the trustee.
Penalty: 100 penalty units.
History
S 299L(6) amended by No 41 of 2011, s 3 and Sch 3 item 11, by omitting
"
or (5)
"
after
"
subsection (3)
"
, applicable to the use of tax file numbers on or after 1 July 2011, whether the tax file numbers were quoted before, on or after 1 July 2011.
S 299L(6) amended by No 82 of 2010 (as amended by No 136 of 2012), s 3 and Sch 6 item 75, by substituting
"
Penalty
"
for
"
Maximum penalty
"
in the penalty, effective 27 July 2010.
S 299L(6) (not including the penalty) substituted by No 53 of 2004, s 3 and Sch 2 item 340, effective 1 July 2004. S 299L(6) formerly read:
299L(6)
The trustee is guilty of an offence if the trustee contravenes a requirement of this section.
S 299L(6) and (7) substituted for s 299L(6) by No 160 of 2000, s 3 and Sch 3 item 73, effective 18 January 2001. S 299L(6) formerly read:
299L(6)
Offence.
A trustee who intentionally or recklessly contravenes a requirement of this section is guilty of an offence punishable on conviction by a fine not exceeding 100 penalty units.
299L(7)
A trustee of the scheme commits an offence if a requirement of subsection (3) is contravened by the trustee. This is an offence of strict liability.
Penalty: 50 penalty units.
Note 1:
Chapter 2 of the
Criminal Code
sets out the general principles of criminal responsibility.
Note 2:
For
strict liability
, see section
6.1
of the
Criminal Code
.
History
S 299L(7) amended by No 41 of 2011, s 3 and Sch 3 item 11, by omitting
"
or (5)
"
after
"
subsection (3)
"
, applicable to the use of tax file numbers on or after 1 July 2011, whether the tax file numbers were quoted before, on or after 1 July 2011.
S 299L(7) amended by No 82 of 2010 (as amended by No 136 of 2012), s 3 and Sch 6 item 75, by substituting
"
Penalty
"
for
"
Maximum penalty
"
in the penalty, effective 27 July 2010.
S 299L(7) (not including the penalty and notes) substituted by No 53 of 2004, s 3 and Sch 2 item 341, effective 1 July 2004. S 299L(7) formerly read:
299L(7)
The trustee is guilty of an offence if the trustee contravenes a requirement of this section. This is an offence of strict liability.
S 299L(6) and (7) substituted for s 299L(6) by No 160 of 2000, s 3 and Sch 3 item 73, effective 18 January 2001.
S 299L inserted by No 76 of 1996.
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