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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 299TB

Effect of invalid quotation of tax file number

  (1)   The Commissioner of Taxation (the Commissioner ) may give the trustee of an eligible superannuation entity or a regulated exempt public sector superannuation scheme a notice under subsection   (2) if:

  (a)   the trustee has made a record of a number (the recorded TFN ) the trustee believes to be the tax file number of the beneficiary; and

  (b)   the Commissioner is satisfied that the recorded TFN:

  (i)   has been cancelled or withdrawn since it was quoted; or

  (ii)   is otherwise wrong; and

  (c)   the Commissioner is not satisfied that the beneficiary has a tax file number.

  (2)   The notice must identify the beneficiary and state that the Commissioner is not satisfied that the beneficiary has a tax file number.

  (3)   If the Commissioner gives a notice under subsection   (2), the Commissioner must give a copy of the notice to the beneficiary.


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