Document ID: chunk:federal_register_of_legislation:C2013A00082:clause:3_3:p1
Version: federal_register_of_legislation:C2013A00082
Segment Type: clause
Provision Reference: sch 3 cl 3 (pt 1/4)
Character Range: 51824–54781

3                    You become liable to pay your *debt account discharge liability for a *superannuation interest                                           The amount of your debt account discharge liability                 On the giving of the notice under section 133‑125

Note: A release authority issued under item 3 of the table can only be given to the superannuation provider that holds the superannuation interest to which the debt account relates: see subsection 135‑40(3).

Requirements for release authority
 (2) A release authority must:
 (a) state the amount of the *release entitlement in respect of which it is given; and
 (b) be dated; and
 (c) contain any other information that the Commissioner considers relevant.

Commissioner may issue a further release authority
 (3) The Commissioner may at any time issue you with a further release authority in respect of a *release entitlement if:
 (a) the Commissioner is satisfied that it is reasonable in the circumstances to do so; and
 (b) the Commissioner has issued you with an earlier release authority in respect of that release entitlement.
Despite paragraph (2)(a), the further release authority must state the amount the Commissioner considers reasonable in the circumstances, but not exceeding the amount of the release entitlement.
Note: For variation and revocation of release authorities, see subsection 33(3) of the Acts Interpretation Act 1901.

Release authority not to be issued to trustee of deceased estate
 (4) To avoid doubt, this section does not require or permit the Commissioner to issue a release authority to the trustee of a deceased estate.

Subdivision 135‑B—When a release authority can be given to a superannuation provider

Guide to Subdivision 135‑B

135‑35  What this Subdivision is about

      You may give a release authority to a superannuation provider within 120 days of being issued with it.
      The Commissioner may give the release authority to a superannuation provider if you fail to pay assessed Division 293 tax that is due and payable within 120 days after the release authority being issued.

Table of sections

Operative provisions
135‑40 When you may give release authority to superannuation provider
135‑45 When Commissioner may give release authority to superannuation provider

Operative provisions

135‑40  When you may give release authority to superannuation provider
 (1) You may give the release authority to a *superannuation provider that holds a *superannuation interest for you within 120 days after the date of the release authority.
 (2) You may request the *superannuation provider, in writing, to pay a specified amount in relation to the release authority.
Note 1: For the amount that the provider pays under a release authority, see section 135‑85.
Note 2: If excess amounts are paid in relation to a release authority:
(a) the excess is assessable income (see section 304‑20 of the Income Tax Assessment Act 1997); and