Retirement Savings Accounts Act 1997

PART 11 - TAX FILE NUMBERS  

Division 4A - Commissioner of Taxation may issue notices about tax file numbers  

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History

Div 4A heading substituted by No 158 of 2012, s 3 and Sch 4 item 44, effective 29 November 2012. The heading formerly read:

Division 4A - Incorrect quotation of tax file number

Div 4A inserted by No 15 of 2007, s 3 and Sch 1 item 283, applicable to the 2007-2008 income year and later years.

SECTION 143B   EFFECT OF INVALID QUOTATION OF TAX FILE NUMBER  

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143B(1)    

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The Commissioner of Taxation (the Commissioner ) may give an RSA provider a notice under subsection (2) if:

(a) the provider has made a record of a number (the recorded TFN ) the trustee believes to be the tax file number of the holder of an RSA; and

(b) the Commissioner is satisfied that the recorded TFN:

(i) has been cancelled or withdrawn since it was quoted; or

(ii) is otherwise wrong; and

(c) the Commissioner is not satisfied that the holder has a tax file number.

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History

S 143B(1) amended by No 158 of 2012 (as amended No 21 of 2015), s 3 and Sch 4 item 46, by inserting " of Taxation (the Commissioner ) " , effective 29 November 2012.

143B(2)    
The notice must identify the holder and state that the Commissioner is not satisfied that the holder has a tax file number.

143B(3)    
If the Commissioner gives a notice under subsection (2), the Commissioner must give a copy of the notice to the holder.

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History

S 143B inserted by No 15 of 2007, s 3 and Sch 1 item 283, applicable to the 2007-2008 income year and later years.

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