Taxation Administration Act 1953

A *superannuation provider in relation to a *superannuation plan must give the Commissioner a statement under this section if the superannuation provider has:

been given a release authority in accordance with:

section 292‑80B of the Income Tax (Transitional Provisions) Act 1997; or

Subdivision 135‑B in this Schedule; and

paid an amount out of the plan in accordance with the release authority.

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

The statement must be given within 30 days after the amount is paid out of the plan.

A statement under subsection (1) must be in the *approved form.

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

The *approved form must require the statement to contain information relating to the release authority.

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

the amount paid;

details relating to the *superannuation provider in relation to the *superannuation plan;

the individual in respect of whom the release authority was given to the superannuation provider.

Subsection (5) does not limit the information that the *approved form may require the statement to contain.

The *superannuation provider must also give the individual to whom the release authority relates a copy of the statement within 30 days after the amount is paid out of the plan.

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