Taxation Administration Act 1953

Release authority not relating to an FHSS determination

The Commissioner may decide to vary or revoke a release authority issued:

under section 131‑15; and

in relation to a determination, or assessment, mentioned in paragraph 131‑5(1)(a), (b) or (c) and given to you;

at any time before the Commissioner is given a notice under section 131‑50 relating to the release authority.

Release authority relating to an FHSS determination

For a release authority issued under section 131‑15 in relation to a *first home super saver determination given to you, the Commissioner may decide to:

vary the release authority if:

the varied release authority would be consistent with paragraph 131‑5(3)(a); and

you satisfy paragraphs 138‑10(2)(a) and (b); or

revoke the release authority;

at any time before the Commissioner begins treating, under Division 3 of Part IIB, any credit to which you have become entitled under section 131‑65 in relation to the release authority.

The Commissioner may make a decision under subsection (2):

on the Commissioner’s own initiative; or

on application by you to the Commissioner in the *approved form.

If a release authority is varied or revoked under subsection (2) at a particular time, then any entitlement under section 131‑65 you had to a credit relating to the release authority ceases at that time.

The revocation of a release authority under subsection (2) does not prevent you from making a later request under section 131‑5 in relation to the same *first home super saver determination.

Reissuing varied release authorities

If the Commissioner varies a release authority under this section at a particular time, then:

at that time, the release authority (as issued before the variation) ceases to be in force; and

the Commissioner must reissue the release authority (as varied) under section 131‑15.

Review

If you are dissatisfied with a decision under subsection (2) by the Commissioner in relation to you:

to vary or revoke a release authority; or

not to vary or revoke a release authority;

you may object against it in the manner set out in Part IVC of this Act.

Complying with a release authority