Taxation Administration Act 1953

You may give the release authority to a *superannuation provider that holds a *superannuation interest for you within 120 days after the date of the release authority.

You may request the *superannuation provider, in writing, to pay a specified amount in relation to the release authority.

For the amount that the provider pays under a release authority, see section 135‑85.

If excess amounts are paid in relation to a release authority:

the excess is assessable income (see section 304‑20 of the Income Tax Assessment Act 1997); and

you are liable to an administrative penalty (see section 288‑100 in this Schedule).

However, a release authority issued under item 3 of the table in subsection 135‑10(1) (for debt account discharge liability) may only be given to the *superannuation provider that holds the *superannuation interest to which the debt account relates.

Also, a release authority issued under item 4 of the table in subsection 135‑10(1) (for Division 296 debt account discharge liability) may only be given to the *superannuation provider that holds the *superannuation interest to which the *Division 296 debt account relates.