Taxation Administration Act 1953

This section applies if:

a *superannuation provider (the first provider) in relation to a *superannuation plan (the first plan) pays a *roll‑over superannuation benefit to another superannuation provider in relation to another superannuation plan; or

a superannuation provider (also the first provider) in relation to a superannuation plan (also the first plan) pays to another superannuation provider in relation to another superannuation plan a *superannuation benefit (other than a roll‑over superannuation benefit) in these circumstances:

the first plan or the other superannuation plan is, or both are, a *non‑complying superannuation plan for the income year in which the benefit is paid; or

the first plan or the other superannuation plan was, or both were, a non‑complying superannuation plan for the previous income year.

The first provider in relation to the first plan must:

give the other superannuation provider a statement in relation to the benefit within 7 days after the day on which the benefit is paid; and

unless the benefit is an *involuntary roll‑over superannuation benefit, give the individual in respect of whom the benefit is paid a statement in relation to the benefit within 30 days after the day on which the benefit is paid.

Section 286‑75 provides an administrative penalty for breach of this subsection.

A statement under subsection (2) must be in the *approved form.

Section 388‑55 allows the Commissioner to defer the time for giving an approved form.

The *approved form may require the statement to contain the following information:

information relating to contributions made to the first plan in respect of the individual during the period specified in a determination under subsection (5) in which the benefit is paid, to the extent those contributions are reflected in that benefit;

other information relating to the benefit, including the *tax free component, *taxable component, *element taxed in the fund and *element untaxed in the fund (as applicable) of the benefit.

The Commissioner may determine, by legislative instrument, the period mentioned in paragraph (4)(a).

The period specified in the determination:

may be:

all or part of an income year; or

all or part of a financial year; or

any other period; and

may be different:

for different kinds of *superannuation provider; and

in relation to any other matter.

Subsection (6) does not limit the way in which the determination may specify the period.

The *approved form may require the statement to contain different information depending on whether paragraph (1)(a) or (b) applies.

Subsections (4) and (8) do not limit the information that the *approved form may require the statement to contain.

The *approved form may require the statement to contain the *tax file number of:

the first provider; and

the first plan; and

the individual in respect of whom the benefit is paid if:

the individual has quoted the individual’s tax file number to the first provider; or

a person who made at least some of the contributions mentioned in paragraph (4)(a) has quoted the individual’s tax file number to the first provider (and had authority to do so).