Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_2:p15
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 15/16)
Character Range: 1355531–1358461

the Income Tax (Transitional Provisions) Act 1997 and that fails to comply with subsection 292‑80C(1) of that Act is liable to an administrative penalty of 20 penalty units.
 (3) A *superannuation provider that fails to comply with section 131‑35 (about release authorities for superannuation) is liable to an administrative penalty of 20 penalty units.
 (4) A *superannuation provider that fails to comply with section 135‑75 (about release authorities for debt account discharge liabilities) is liable to an administrative penalty of 20 penalty units.

288‑100  Excess money paid under release authority
 (1) A person is liable for an administrative penalty of 20 penalty units if:
 (a) the person gives one or more *superannuation providers a release authority in accordance with section 292‑80B of the Income Tax (Transitional Provisions) Act 1997; and
 (b) the total of the amounts paid by the superannuation provider or providers to the person and the Commissioner as a result of being given the release authority exceeds the amount required to be paid in respect of the release authority under section 292‑80C of that Act.
 (2) An individual is liable to an administrative penalty of 20 penalty units if one or more *superannuation benefits that the individual receives (or is taken to receive), paid in relation to a release authority issued in accordance with Subdivision 135‑A in this Schedule, is assessable income to any extent.

288‑105  Superannuation provider to calculate crystallised pre‑July 83 amount of superannuation interest by 30 June 2008
 (1) An entity is liable to an administrative penalty of 5 penalty units if:
 (a) the entity is the *superannuation provider in relation to a *superannuation plan (other than a *constitutionally protected fund) on 30 June 2008; and
 (b) the entity has not ensured that the crystallised pre‑July 83 amount in relation to each superannuation interest in the plan has been calculated on or before that day.
 (2) For the purpose of paragraph (1)(b), disregard a *superannuation interest unless the *element taxed in the fund of the *taxable component of the interest exceeds nil just before 1 July 2007.
 (3) For the purpose of paragraph (1)(b), disregard a *superannuation interest that supported a *superannuation income stream just before 1 July 2007.

288‑110  Contravention of superannuation data and payment regulation or standard

Liability to penalty—RSA providers and trustees of eligible superannuation entities
 (1) An entity is liable to an administrative penalty if the entity contravenes:
 (a) subsection 34M(1) of the Superannuation Industry (Supervision) Act 1993; or
 (b) subsection 45D(1) of the Retirement Savings Accounts Act 1997.
 (2) An entity is liable to an administrative penalty if the entity contravenes:
 (a) subsection 34P(6) of the Superannuation Industry (Supervision) Act 1993; or
 (b) subsection 45F(6) of the Retirement Savings Accounts