(1) This section applies if a trustee beneficiary in respect of:
(a) a share of the net income of a closely held trust for a year of income that is included in the assessable income of the trustee beneficiary of the trust under section 97; or
(b) a share of a tax-preferred amount of a closely held trust to which the trustee beneficiary of the trust is presently entitled at the end of a year of income;
quotes his or her tax file number to the trustee of the closely held trust in connection with that trustee making a correct TB statement about that share.
(2) Section 8WB of the Taxation Administration Act 1953 does not prohibit the trustee of the closely held trust from:
(a) recording the tax file number or maintaining such a record; or
(b) using the tax file number in a manner connecting it with the identity of the trustee beneficiary; or
(c) divulging or communicating the tax file number to a third person;
in connection with that trustee making a correct TB statement about that share.