Family Assistance Amendment (Further 2008 Budget Measures) Act 2009 (49 of 2009)

Schedule 3   Information sharing

A New Tax System (Family Assistance) (Administration) Act 1999

1   Subsections 154A(2), (3) and (4)

Repeal the subsections, substitute:

(2) The Secretary may provide to the Commissioner of Taxation a record (the designated TFN record ) of an individual's tax file number for the purpose of being informed by the Commissioner of amounts included in the individual's adjusted taxable income for a specified income year.

Note: The tax file number must first have been provided to the Secretary as described in subsection (1).

(3) The Secretary may later give written notice to the Commissioner that the Secretary understands that the individual is not required to lodge an income tax return for that income year.

(4) A notice under subsection (3) may include a record of the individual's tax file number. The Commissioner must destroy that record when it is no longer needed for the purpose of the notice.

(5) If the Commissioner works out amounts included in the individual's adjusted taxable income for that income year, the Commissioner may disclose to the Secretary:

(a) particulars of those amounts; and

(b) the individual's tax file number.

(6) The Commissioner must destroy the designated TFN record 3 years after the end of that income year, unless during those 3 years:

(a) the Commissioner has not disclosed particulars of the individual's adjusted taxable income for that income year under subsection (5); and

(b) the Commissioner has not received a notice under subsection (3) that the Secretary understands that the individual is not required to lodge an income tax return for that income year.

(7) If the Commissioner is not required to destroy the designated TFN record under subsection (6), the Commissioner must do so if and when the Commissioner later:

(a) discloses particulars of the individual's adjusted taxable income for that income year under subsection (5); or

(b) receives a notice under subsection (3) that the Secretary understands that the individual is not required to lodge an income tax return for that income year.

Note: The heading to section 154A is replaced by the heading " Getting details of adjusted taxable income ".