Taxation Administration Act 1953

You may request the Commissioner to require the release of an amount from your superannuation interests if you are given:

The Commissioner may also require the release of an amount from your superannuation interests in related circumstances.

Superannuation providers must usually pay the amount required to be released. However, for defined benefit superannuation interests the provider may choose whether or not to pay.

Released amounts are paid to the Commissioner. You get a credit for the released amount. Surplus credits are refunded to you under Division 3A of Part IIB.

Table of sections

Requesting a release authority

131‑5 Requesting the release of amounts from superannuation interests

131‑10 Restrictions on the total amount you can request to be released

131‑12 Withdrawing or amending your request for a release authority relating to an FHSS determination

Issuing a release authority to superannuation provider

131‑15 Issuing release authorities

131‑20 Amount to be stated in a release authority

131‑25 Contents of a release authority

131‑30 Varying or revoking a release authority

Complying with a release authority

131‑35 Obligations of superannuation providers

131‑40 Voluntary compliance with a release authority relating to defined benefit interests

131‑45 Meaning of maximum available release amount

131‑50 Notifying Commissioner

131‑55 Notifying you

131‑60 Compensation for acquisition of property

Consequences of releasing amounts

131‑65 Entitlement to credits

131‑70 Interest for late payments of money received by the Commissioner in accordance with release authority

131‑75 Income tax treatment of amounts released—proportioning rule does not apply

Repayments if your entitlement to a credit ceases for a release authority relating to an FHSS determination

131‑80 Repayments if your entitlement to a credit ceases for a release authority relating to an FHSS determination

Requesting a release authority