Document ID: chunk:federal_register_of_legislation:C2004C01337:clause:1_252g:p1
Version: federal_register_of_legislation:C2004C01337
Segment Type: clause
Provision Reference: sch 1 cl 252G (pt 1/3)
Character Range: 48355–50971

252G  Outstanding annual returns and amounts

Outstanding annual returns etc.—self managed funds

 (1) If:
 (a) a superannuation fund was a self managed superannuation fund at either of the following times:
 (i) the end of the last day of a designated year of income; or
 (ii) if the fund ceased to exist during a designated year of income—the time at which the fund ceased to exist; and
 (b) at that time, the trustee of the fund was under an obligation to give to APRA an annual return in respect of a previous year of income, or any other report or information under this Act;
the trustee of the fund is taken (subject to any later application of this section) to be under an obligation, beginning immediately after that time, to give the annual return, report or information to the Commissioner of Taxation. The annual return, report or information is to be given in the approved form.

Note:  This provision only affects annual returns outstanding from years before the designated year of income. The trustee will still be required to submit a return under section 36A for the designated year of income (and also under section 36 if the fund changed status during the designated year of income). Levy will be payable on lodgment of any such return.

Outstanding annual returns etc.—other funds

 (2) If:
 (a) a superannuation fund was a fund other than a self managed superannuation fund at either of the following times:
 (i) the end of the last day of a designated year of income; or
 (ii) if the fund ceased to exist during a designated year of income—the time at which the fund ceased to exist; and
 (b) at that time, the trustee of the fund was under an obligation to give to the Commissioner of Taxation an annual return in respect of a previous year of income, or any other report or information under this Act;
the trustee of the fund is taken (subject to any later application of this section) to be under an obligation, beginning immediately after that time, to give the annual return, report or information to APRA. The annual return, report or information is to be given in the approved form.

Note:  This provision only affects annual returns outstanding from years before the designated year of income. The trustee will still be required to submit a return under section 36 for the designated year of income (and also under section 36A if the fund changed status during the designated year of income). Levy will be payable on lodgment of any such return.

Outstanding levy—self managed funds

 (3) If:
 (a) a superannuation fund was a self managed superannuation fund at either of the following