Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:4_15:p1
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 4 cl 15 (pt 1/5)
Character Range: 336895–339947

15  At the end of Part 5‑25 in Schedule 1
Add:

Division 390—Superannuation reporting

Table of Subdivisions

 Guide to Division 390
390‑A Contributions statements and roll‑over superannuation benefit statements etc.
390‑B Statements relating to release authorities
390‑C Other statements

Guide to Division 390

390‑1  What this Division is about

      Superannuation providers must give the Commissioner information about superannuation plans (such as contributions to superannuation plans) periodically.
      Superannuation providers are also required to give information about roll‑over superannuation benefits paid from superannuation plans.

Subdivision 390‑A—Contributions statements and roll‑over superannuation benefit statements etc.

390‑5  Contributions statements

 (1) A *superannuation provider in relation to a *superannuation plan must give the Commissioner a statement in relation to contributions (if any) made to the plan in respect of an individual during a period specified in a determination under subsection (6) if:
 (a) for a superannuation plan that is a *self managed superannuation fund—either or both of these conditions are satisfied:
 (i) the individual held a *superannuation interest in the plan at the end of the period;
 (ii) the individual held a superannuation interest in the plan at any time during the period and received one or more *superannuation benefits from the plan during the period; or
 (b) for a superannuation plan that is not a self managed superannuation fund:
 (i) contributions were made to the plan in respect of the individual during the period; and
 (ii) either or both of the conditions in subparagraphs (a)(i) and (ii) are satisfied.

Note 1: Section 286‑75 provides an administrative penalty for breach of this subsection.

Note 2: A person may make a complaint to the Superannuation Complaints Tribunal under section 15CA of the Superannuation (Resolution of Complaints) Act 1993 if the person is dissatisfied with a statement given to the Commissioner by a superannuation provider under this section.

 (2) Treat the following as contributions for the purposes of this section:
 (a) *notional taxed contributions in relation to a *defined benefit interest in the *superannuation plan;
 (b) amounts mentioned in subsection 292‑25(3) of the Income Tax Assessment Act 1997 allocated by the *superannuation provider in relation to the superannuation plan.

 (3) For the purposes of subparagraph (1)(a)(ii), disregard *roll‑over superannuation benefits that the individual is taken to receive under section 307‑15 of the Income Tax Assessment Act 1997.

 (4) A statement under subsection (1) must be in the *approved form.

 (5) The statement must be given to the Commissioner on a day specified in the determination under subsection (6).

Note: Section 388‑55 allows the Commissioner to defer the time for giving an approved form.

 (6) The Commissioner may determine, by legislative instrument:
 (a) the period mentioned in subsection (1); and
 (b) the day on which a statement must be