Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Act 2012 (158 of 2012)

Schedule 4   Improving efficiency and data quality in the superannuation system

Part 2   Retirement Savings Accounts Act 1997

Division 3   Tax file numbers

Retirement Savings Accounts Act 1997

47   At the end of Division 4A of Part 11

Add:

143C Commissioner of Taxation may inform RSA provider of tax file number

(1) The Commissioner of Taxation (the Commissioner ) may give an RSA provider notice of the tax file number of a person if the Commissioner is satisfied that:

(a) the person is a holder of an RSA provided by the RSA provider, or a person applying to become such a holder; and

(b) the person has quoted (for superannuation purposes) (within the meaning of the Income Tax Assessment Act 1997) his or her tax file number to another person.

(2) However if, before the time the Commissioner gives the notice, the person specifically requests the provider not to record the person's tax file number:

(a) the notice is to be disregarded; and

(b) section 140A does not apply to deem the person to have quoted the tax file number to the provider when the notice was given.

Note: A consequence is that provisions that require or permit a provider to record or use a validly quoted tax file number do not apply.

143D Validation notice - holders of RSAs

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

(a) the RSA provider gives the Commissioner information that the RSA provider believes to be:

(i) the full name, tax file number and date of birth of a person; or

(ii) the full name, tax file number, date of birth and address of a person; and

(b) the Commissioner is satisfied that:

(i) the person is a holder of an RSA provided by the RSA provider, or a person applying to become such a holder; and

(ii) the RSA provider is giving the information to the Commissioner in connection with the operation of the RSA; and

(c) the Commissioner is satisfied, having regard to the information (if any) that the Commissioner has recorded for the tax file number given, that it is reasonable to give the notice.

(2) The notice must state whether or not the Commissioner is able to validate the information given.

(3) To avoid doubt, a notice that the Commissioner is not able to validate the information is not a notice under section 143B.

143E Validation notice - employees

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

(a) the employer gives the Commissioner information that the employer believes to be:

(i) the full name, tax file number and date of birth of a person; or

(ii) the full name, tax file number, date of birth and address of a person; and

(b) the Commissioner is satisfied that:

(i) the person is an employee of the employer for whose benefit a contribution to an RSA is to be made; and

(ii) the employer is giving the information to the Commissioner in connection with the operation of the RSA; and

(iii) that use by the employer of the tax file number complies with section 133A; and

(c) the Commissioner is satisfied, having regard to the information (if any) that the Commissioner has recorded for the tax file number given, that it is reasonable to give the notice.

(2) The notice must state whether or not the Commissioner is able to validate the information given.

(3) To avoid doubt, a notice that the Commissioner is not able to validate the information is not a notice under subsection202CE(3) of the Income Tax Assessment Act 1936.

143F Commissioner of Taxation may provide electronic interface

The Commissioner of Taxation may use an electronic interface to receive information and give notices under this Division.