Taxation Administration Act 1953

If a *superannuation provider pays an amount in relation to a release authority issued under section 131‑15 in relation to you, you are entitled to a credit equal to that amount.

Division 3 of Part IIB provides for the treatment of credits that you are entitled to under a taxation law.

The credit arises on the day the Commissioner receives the amount.

However, if the amount paid in relation to the release authority relates to an amount of *assessed Division 293 tax that is *deferred to a debt account for a *superannuation interest:

subsection (1) does not apply in relation to the payment; and

treat the payment as if it were a voluntary payment under section 133‑70 in relation to that debt account.

Also, if the amount paid in relation to the release authority relates to an amount of *assessed Division 296 tax that is *deferred to a Division 296 debt account for a *superannuation interest:

subsection (1) does not apply in relation to the payment; and

treat the payment as if it were a voluntary payment under section 134‑70 in relation to that *Division 296 debt account.