FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)

PART 5 - ADMINISTRATION  

Division 2 - Tax file numbers  

Subdivision A - Quotation, use and transfer of FHSA holder ' s tax file number  

SECTION 61   FHSA provider must inform other FHSA provider or superannuation provider of tax file number for certain purposes  

61(1)    
This section applies if:


(a) a person is the holder of an FHSA provided by an FHSA provider; and


(b) the holder has quoted (whether as a holder or as a person applying to become a holder) his or her tax file number to the FHSA provider in connection with the operation or the possible future operation of this Act and the Superannuation Acts.

Transfer of amounts in an FHSA to another FHSA

61(2)    
If the FHSA provider transfers the balance of the FHSA to another FHSA held by the holder, the FHSA provider must, at the time of the transfer and in the approved form, inform the other FHSA provider of the holder ' s tax file number.

Contribution of amounts in an FHSA to a complying superannuation plan

61(3)    
If the FHSA provider contributes any amount from the FHSA to a complying superannuation plan for the benefit of the holder, the FHSA provider must, at the time of the contribution and in the approved form, inform the superannuation provider in relation to the plan of the holder ' s tax file number.

Offences

61(4)    
An FHSA provider commits an offence if it contravenes a requirement of this section.

Penalty: 100 penalty units.


61(5)    
An FHSA provider commits an offence if it contravenes a requirement of this section. This is an offence of strict liability.

Penalty: 50 penalty units.

Note:

For strict liability, see section 6.1 of the Criminal Code .

 

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