Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 (81 of 2016)

Schedule 10   Administrative streamlining

Part 2   End benefit caps

Taxation Administration Act 1953

60   Section 133-135 in Schedule 1

Repeal the section, substitute:

133-135 Superannuation provider may request debt account status

(1) If:

(a) a *superannuation provider has been given a notice under section 133-75 saying that the Commissioner has started to keep a debt account for a *superannuation interest; and

(b) the superannuation provider receives a request to pay the *end benefit from the superannuation interest or the end benefit becomes payable from the superannuation interest;

the superannuation provider may, in the *approved form, request the Commissioner to advise as to the status of the debt account.

(2) If the Commissioner receives a request, the Commissioner must advise the *superannuation provider as soon as practicablewhether or not the debt account is in debit.