Document ID: chunk:federal_register_of_legislation:F2017L01270:body:0:p3
Version: federal_register_of_legislation:F2017L01270
Segment Type: other
Provision Reference: 
Character Range: 4925–7536

number to your RSA provider is not an offence. However giving your tax file number to your RSA will have the following advantages:

          * your RSA will be able to accept all permitted types of contributions to your account/s;

          * other than the tax that may ordinarily apply, you will not pay more tax than you need to – this affects both contributions to your RSA/s and benefit payments when you start drawing down your RSA benefits; and

          * it will make it much easier to find different superannuation account/s in your name so that you receive all your superannuation benefits when you retire.

    5. Nothing in this approval is intended to prevent a tax file number being requested or provided orally or in writing.

Manner of an RSA holder or an applicant to become an RSA holder quoting or setting out tax file number

    6.  An RSA holder, or an applicant to become an RSA holder, may quote or set out their tax file number to an RSA provider orally or in writing if the RSA provider has made a request that complies with paragraphs 1 to 5.

Manner of RSA provider informing a superannuation provider

    7. When informing a superannuation provider of an RSA holder's tax file number, the RSA provider must do so in writing.  However, a tax file number may subsequently be given orally to clarify or complete a tax file number given in writing.

    8. When informing a superannuation provider of a tax file number, the RSA provider must give the superannuation provider all information in the possession of the RSA provider that could reasonably help the superannuation provider to locate or identify the RSA holder and which the RSA holder would reasonably expect to be disclosed.  However, the RSA provider shall not be obliged to give the other superannuation provider any information which the RSA provider has been asked or instructed by the RSA holder not to divulge.

    Note: In addition to the above, an RSA provider must also comply with any other tax file number obligations in Part 11 of the Retirement Savings Accounts Act 1997 and with the Privacy (Tax File Number) Rule 2015 issued by the Privacy Commissioner under section 17 of the Privacy Act 1988.

Interpretation

    9.                  In this Schedule:

    superannuation provider means the trustee of a superannuation entity or regulated exempt public sector superannuation scheme or an RSA provider within the meaning of section 16 of the Retirement Savings Accounts Act 1997;

    in writing means all written forms of communication including by electronic and digital transfer of information.