Document ID: chunk:federal_register_of_legislation:C2008A00151:clause:1_20e
Version: federal_register_of_legislation:C2008A00151
Segment Type: clause
Provision Reference: sch 1 cl 20E
Character Range: 11335–13880

20E  Superannuation provider must give statement to Commissioner by scheduled statement day

Giving statement to Commissioner

 (1) The superannuation provider must give the Commissioner a statement, in the approved form, of information relevant to either or both of the following:
 (a) the person's superannuation interest in the fund;
 (b) the administration of any of the following in connection with the person's superannuation interest in the fund:
 (i) this Part;
 (ii) the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007;
 (iii) the Income Tax Assessment Act 1997, and Chapters 2 and 4 in Schedule 1 to the Taxation Administration Act 1953, so far as they relate to this Part or the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007.

Note 1: The Taxation Administration Act 1953 provides for offences and administrative penalties if the statement includes false or misleading information: see sections 8K and 8N of that Act and Division 284 in Schedule 1 to that Act.

Note 2: The approved form may also require the statement to include certain tax file numbers: see subsection 25(2A).

When statement must be given

 (2) The superannuation provider must give the Commissioner the statement by the end of:
 (a) the next scheduled statement day after the notice is given; or
 (b) if the Commissioner gives the notice less than 28 days before the next scheduled statement day—the following scheduled statement day.

Example: Suppose that 1 May and 1 November each year are the scheduled statement days, and that the Commissioner gives the notice to the superannuation provider on 15 April in a year. The superannuation provider must give the Commissioner the statement by the end of 1 November that year (rather than 1 May that year).

Note 1: The Commissioner may defer the time for giving the statement: see section 388‑55 in Schedule 1 to the Taxation Administration Act 1953.

Note 2: The Taxation Administration Act 1953 provides for offences and administrative penalties if the statement is not given when it must be: see section 8C of that Act and Division 286 in Schedule 1 to that Act.

Statement required even if person does not have interest

 (3) The superannuation provider must give the Commissioner the statement even if:
 (a) the person does not have a superannuation interest when the superannuation provider must give the statement; or
 (b) the superannuation provider is not required by subsection 20F(1) to pay the Commissioner an amount in respect of the person.