Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:1_5:p4
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 1 cl 5 (pt 4/23)
Character Range: 144852–147543

to the superannuation interest or RSA for the income year that are included in assessable income under Subdivision 295‑C did not exceed $1,000.

295‑615  Meaning of quoted (for superannuation purposes)

  An individual has quoted (for superannuation purposes) a *tax file number to an entity at a time if the individual:
 (a) quotes his or her tax file number to the entity at that time; or
 (b) is taken by the Superannuation Industry (Supervision) Act 1993, the Retirement Savings Accounts Act 1997 or this Act to quote his or her tax file number to the entity at that time;
in connection with the operation or the possible future operation of one or more of the following Acts:
 (c) the Superannuation Acts (within the meaning of Part 25A of the Superannuation Industry (Supervision) Act 1993);
 (d) the Retirement Savings Accounts Act 1997.

295‑620  No reduction under Subdivision 295‑D

  There is no reduction of the amount of *no‑TFN contributions income by Subdivision 295‑D.

Note: Subdivision 295‑D can reduce an amount that would otherwise be included in assessable income. It does not reduce the amount of no‑TFN contributions income. An amount is still no‑TFN contributions income even if, because of Subdivision 295‑D, the amount (or part of it) is not included in assessable income.

295‑625  Assessments

 (1) If the Commissioner makes an assessment of the amount of income tax on the *no‑TFN contributions income, notice of the assessment may be included in a notice of any other assessment under this Act.

Self‑assessment

 (2) If the conditions in subsection (3) are met, the Commissioner is taken to have made an assessment of a kind set out in subsection (4).

 (3) The conditions are:
 (a) one of the following gives the Commissioner an *income tax return for an income year on a particular day (the return day):
 (i) a *superannuation provider in relation to a *complying superannuation fund;
 (ii) a superannuation provider in relation to a *non‑complying superannuation fund;
 (iii) an *RSA provider; and
 (b) the return is the first income tax return given by the provider for the year; and
 (c) the Commissioner has not already made an assessment of a kind set out in subsection (4) for the provider for the year.

 (4) The assessment is taken to have been made for the provider for the income year on the return day, and to be an assessment, in accordance with the information stated in the return, of the amount of income tax payable on the *no‑TFN contributions income (if any) of the provider (or to be an assessment that no tax is payable).

 (5) The return is taken to be notice of the assessment signed by the Commissioner and given to the provider on