Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p8
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 8/17)
Character Range: 1777271–1780156

an amount out of the plan in accordance with the release authority.
Note: Section 286‑75 provides an administrative penalty for breach of this subsection.
 (2) The statement must be given within 30 days after the amount is paid out of the plan.
 (3) A statement under subsection (1) must be in the *approved form.
Note: Section 388‑55 allows the Commissioner to defer the time for giving an approved form.
 (4) The *approved form must require the statement to contain information relating to the release authority.
 (5) The *approved form may require the statement to contain the following information:
 (a) the amount paid;
 (b) details relating to the *superannuation provider in relation to the *superannuation plan;
 (c) the individual in respect of whom the release authority was given to the superannuation provider.
 (6) Subsection (5) does not limit the information that the *approved form may require the statement to contain.
 (7) The *superannuation provider must also give the individual to whom the release authority relates a copy of the statement within 30 days after the amount is paid out of the plan.
Note: Section 286‑75 provides an administrative penalty for breach of this subsection.

Subdivision 390‑C—Other statements

390‑115  Change or omission in information given to the Commissioner
 (1) If a *superannuation provider in relation to a *superannuation plan becomes aware of a material change or material omission in any information given to the Commissioner in relation to the plan under this Division, the provider must:
 (a) tell the Commissioner of the change in the *approved form; or
 (b) give the omitted information to the Commissioner in the approved form.
Note: Section 286‑75 provides an administrative penalty for breach of this subsection.
 (2) Information required by subsection (1) must be given no later than 30 days after the *superannuation provider becomes aware of the change or omission.
Note: Section 388‑55 allows the Commissioner to defer the time for giving an approved form.

Division 392—Employee share scheme reporting

Table of Subdivisions
 Guide to Division 392
392‑A Statements
392‑B Miscellaneous

Guide to Division 392

392‑1  What this Division is about

      A company that provides ESS interests to an individual under an employee share scheme during a year must, at the end of the year (and, in certain cases, at the end of a later year), give certain information to the Commissioner and to the individual.
                  Note: For the tax treatment of employee share schemes, see Division 83A of the Income Tax Assessment Act 1997.

Subdivision 392‑A—Statements

Table of sections
392‑5 Statements by providers
392‑10 Change or omission in information given to the Commissioner

392‑5  Statements by providers

Statements
 (1) An entity (the provider) must give a statement to the Commissioner and to an individual