Document ID: chunk:federal_register_of_legislation:C2004A04745:body:0:p21
Version: federal_register_of_legislation:C2004A04745
Segment Type: other
Provision Reference: 
Character Range: 51599–54292

Bank of South Australia or to a designated subsidiary of the State Bank of South Australia

50.(1) If eligible tax file number information in relation to an investment is disclosed to the State Bank of South Australia, or to a designated subsidiary of the State Bank of South Australia, under this Subdivision, the investor is taken, for the purposes of Part VA of the Income Tax Assessment Act 1936:

     (a) to have quoted his or her tax file number to the State Bank of South Australia or to the designated subsidiary, as the case requires, under Division 4 of that Part in connection with the investment; and

     (b) to have so quoted his or her tax file number at whichever is the later of the following times:

        (i) the time when the disclosure of the eligible tax file number information occurred;

        (ii) the time when the transfer of the investment occurred.

(2) For the purposes of subsection 202DG(2A) of the Income Tax Assessment Act 1936, if:

     (a) eligible tax file number information in relation to an investment is disclosed to the State Bank of South Australia, or to a designated subsidiary of the State Bank of South Australia, under this Subdivision; and

  (b) the eligible tax number information was covered by paragraph 41(a);

the investor is taken to have actually quoted his or her tax file number under Division 4 of Part VA of that Act.

Modification of subsection 202EC(4) of the Income Tax Assessment Act 1936

51.(1) If information covered by paragraph 41(e) is disclosed to the State Bank of South Australia under this Subdivision, subsection 202EC(4) of the Income Tax Assessment Act 1936 has effect as if the reference in that subsection to subsection 202EC(1) of that Act included a reference to section 47 of this Act.

(2) If information covered by paragraph 41(e) is disclosed to a designated subsidiary of the State Bank of South Australia under this Subdivision, subsection 202EC(4) of the Income Tax Assessment Act 1936 has effect as if the reference in that subsection to subsection 202EC(1) of that Act included a reference to section 48 of this Act.

Subdivision C—Common provisions

Division deemed to be a taxation law for the purposes of section 8WB of the Taxation Administration Act 1953

52. This Division is taken to be a taxation law for the purposes of section 8WB of the Taxation Administration Act 1953.

Disclosure of tax file number information under this Division taken not to be in breach of guidelines under the Privacy Act 1988

53. A disclosure of eligible tax file number information under this Division is taken not to breach guidelines issued under section 17 of the Privacy Act 1988.

Division 5—Reduction