Tax Laws Amendment (2011 Measures No. 9) Act 2012 (12 of 2012)

Schedule 1   Form for portability of superannuation

Superannuation Industry (Supervision) Act 1993

18   At the end of Division 2 of Part 25A

Add:

299NA Portability forms

Requesting tax file numbers

(1) The Commissioner of Taxation may request a beneficiary of:

(a) a regulated superannuation fund; or

(b) an approved deposit fund;

to quote the beneficiary’s tax file number to the Commissioner in connection with the operation, or the possible future operation, of a scheme prescribed for the purposes of section 34A (Portability forms).

(2) The beneficiary is not obliged to comply with the request, but the regulations made for the purposes of that section may provide that failure to comply with the request affects whether the Commissioner may pass a request on to the trustee of the fund under the prescribed scheme.

Passing on tax file numbers

(3) The Commissioner of Taxation may inform the trustee of:

(a) a regulated superannuation fund; or

(b) an approved deposit fund;

of the tax file number of a beneficiary of the fund as part of the Commissioner passing on to the trustee a request made by the beneficiary under a scheme prescribed for the purposes of section 34A (Portability forms).

(4) If the Commissioner does so, the beneficiary is:

(a) taken to have quoted the tax file number to the trustee in connection with the operation or the possible future operation of this Act and the other Superannuation Acts; and

(b) taken to have quoted that tax file number at the time when the Commissioner informs the trustee of the tax file number.