Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_5:p2
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 5 (pt 2/3)
Character Range: 1017957–1020928

with a release authority
131‑35 Obligations of superannuation providers
131‑40 Voluntary compliance with a release authority relating to defined benefit interests
131‑45 Meaning of maximum available release amount
131‑50 Notifying Commissioner
131‑55 Notifying you
131‑60 Compensation for acquisition of property

Consequences of releasing amounts
131‑65 Entitlement to credits
131‑70 Interest for late payments of money received by the Commissioner in accordance with release authority
131‑75 Income tax treatment of amounts released—proportioning rule does not apply

Repayments if your entitlement to a credit ceases for a release authority relating to an FHSS determination
131‑80 Repayments if your entitlement to a credit ceases for a release authority relating to an FHSS determination

Requesting a release authority

131‑5  Requesting the release of amounts from superannuation interests
 (1) You may make a request under this section for a *financial year if you are given any of the following:
 (a) an *excess concessional contributions determination for the financial year;
 (b) an *excess non‑concessional contributions determination for the financial year;
 (c) a notice of assessment of an amount of *Division 293 tax payable for the income year that corresponds to the financial year;
 (d) a *first home super saver determination.
 (2) You make the request by:
 (a) notifying the Commissioner of the total amount to be released; and
 (b) identifying your *superannuation interest or interests from which that total amount is to be released; and
 (c) if you identify more than one superannuation interest—stating the amount to be released from each such interest.
 (3) The request must:
 (a) ensure that the total amount to be released for the determination or assessment complies with section 131‑10; and
 (b) be in the *approved form; and
 (c) be given to the Commissioner within:
 (i) 60 days after the Commissioner issues the determination or notice referred to in subsection (1); or
 (ii) a further period allowed by the Commissioner.

Unsuccessful requests—making a further request
 (4) If:
 (a) you make a valid request under this section; and
 (b) the Commissioner gives you a notice under subsection 131‑55(1) stating an amount (the unreleased amount) that a *superannuation provider did not pay in relation to a release authority issued for that request;
you may make a further request to release the unreleased amount from another of your *superannuation interests.
 (5) The further request must comply with subsection (2) and paragraphs (3)(a) and (b), and must be given to the Commissioner within:
 (a) 60 days after the Commissioner issues the notice mentioned in paragraph (4)(b); or
 (b) a further period allowed by the Commissioner.

Most requests are irrevocable
 (6) Subject to section 131‑12 (about requests relating to FHSS determinations), a request under this section is irrevocable.

131‑10  Restrictions on the total amount you can