Source: https://prod.apra.pnx.skpr.live/tax-file-number-approvals
Timestamp: 2020-04-02 10:33:26
Document Index: 511397751

Matched Legal Cases: ['art 25', 'art 11', 'art 25', 'art 25', 'art 25', 'art 11', 'art 11', 'art 11']

Tax file number approvals | APRA
Information about tax file number approvals (TFNs) for Registrable Superannuation Entities (RSE) licensees.
TFN approval instruments
APRA has made revised TFN approvals in 2017 under Part 25A of the Superannuation Industry (Supervision) Act 1993 (SIS Act) and Part 11 of the Retirement Savings Accounts Act 1997 (RSA Act).
For more information about collecting TFNs see Tax file numbers - frequently asked questions.
Tax file number approval under Part 25A of the Superannuation Industry (Supervision) Act
Part 25A of the SIS Act includes requirements about the collection and use of members' tax file numbers (TFNs) by trustees of superannuation funds and approved deposit funds. It requires that TFNs be quoted in a manner approved by APRA
Tax File Number Approval No.1 of 2017 under Part 25A of the Superannuation Industry (Supervision) Act 1993
The Explanatory Statement is available via the Approval link above.
Tax file number approval under Part 11 of the Retirement Savings Accounts Act
Part 11 of the RSA Act contains requirements regarding the collection and use of RSA holders' tax file numbers (TFNs) by RSA providers. It requires that TFNs be quoted in a manner approved by APRA.
Tax File Number Approval No. 1 of 2017 under Part 11 of the Retirement Saving Accounts Act 1997
Tax file number obligations
For more information about our tax file number obligations:
Office of the Australian Information Commissioner on:
Tax File Numbers (TFN rule, guidance material, taxation legislation and TFN related functions)
Australian Taxation Office - Tax File Numbers (apply for, update, lost or stolen TFNs, identity theft, penalties)
The list below is provided in accordance with subparagraph 13(1)(d) of the Privacy (Tax File Number) Rule 2015. The list identifies 'prohibitions on the collection, recording, use and disclosure of TFN information', and the potential associated penalties.
See section 4AA of the Crimes Act 1914 for the current value of the penalty unit.
Prohibitions on the collection, recording, use and disclosure of tax file number information, and the potential associated penalties
3.13(4) interference with privacy of an individual
s. 13G serious and repeated interference with privacy
s. 36(1) complaints
not exceeding 2,000 penalty units
Retirement Saving Accounts Act 1997 s. 137 obligation to destroy tax file numbers not exceeding 100 penalty units
ss. 299H, 299J and 299L obligations to destroy tax file numbers
Superannuation Industry (Supervision) Act 1993 s.299N Trustee of regulated exempt public sector superannuation scheme may inform RSA provider of other trustee of tax file number for certain purposes not exceeding 100 penalty units
Superannuation Industry (Supervision) Act 1993 s. 299Y Trustee of former regulated exempt public sector superannuation scheme to destroy records of tax file numbers
100 penalty units s.2
50 penalty units s.3
s.8AW unauthorised requirement etc that tax file number be quoted
s. 8WB unauthorised recording etc of tax file number
100 penalty units or imprisonment for two years or both