Superannuation Contributions Tax (Assessment and Collection) Regulations (Amendment) (Cth)

Statutory Rules 1997No. 370 1

__________________

Superannuation Contributions Tax (Assessment and Collection) Regulations2 (Amendment)

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Superannuation Contributions Tax (Assessment and Collection) Act 1997.

Dated 8 December 1997.

 WILLIAM DEANE

 Governor-General

By His Excellency’s Command,

C. R. KEMP

Assistant Treasurer

____________

1.   Amendment

1.1   The Superannuation Contributions Tax (Assessment and Collection) Regulations are amended as set out in these Regulations.

[NOTE:  These Regulations commence on gazettal: see Acts Interpretation

Act 1901, s 48.]

2.   Regulation 2 (Definitions)

2.1   Definition of “direct employer-contributed amount” (paragraph (a)):

Omit “amount referred to in subparagraph 13 (7) (a) (i)”, substitute “of the amounts referred to in subparagraphs 13 (7) (a) (i) and (iii)”.

2.2   Definition of “roll-in employer-contributed amount”:

Omit the definition, substitute:

“‘roll-in employer-contributed amount’ means so much of the total of the amounts referred to in subparagraphs 13 (7) (a) (i) and (iii) of the Act, and of the amount referred to in paragraph 13 (7) (b) of the Act, as applicable, for a member as is received by the member’s superannuation provider from another superannuation provider of the member;”.

2.3   Insert the following definitions:

“‘account reconciliation statement’ means a statement mentioned in regulation 3E;

‘assessment variation advice statement’ means a statement mentioned in regulation 3D;

‘contributed amounts paid/transferred out statement’ means a statement under subsection 13 (3) or paragraph 13 (4) (a) of the Act for a member;

‘destination superannuation provider’ has the meaning given by regulation 3C;

‘destination superannuation provider superfund number’ means the first 6 digits of the superannuation fund number of a destination superannuation provider;”.

3.   New regulations 3A, 3B, 3C, 3D and 3E

3.1   After regulation 3, insert in Part 2:

Contributed amounts paid/transferred out statement—additional matters (Act, subsection 13 (3) and paragraph 13 (4) (a))

 “3A. (1) A contributed amounts paid/transferred out statement must include information (where applicable) on the matters set out in Schedule 1A.

 “(2) Those matters include:

• (a)

  matters required by paragraphs 13 (3) (a), (b) and (c) or subparagraphs 13 (4) (a) (ia), (i) and (ii) of the Act to be set out in the statement (which are marked with an asterisk* in the Schedule); and

• (b)

  matters that, under paragraph 13 (3) (d) or subparagraph 13 (4) (a) (iii) of the Act, are required by these Regulations to be so set out (which are unmarked).

 “(3) Despite subregulation (1), a superannuation provider is not obliged to include, in a statement under paragraph 13 (4) (a) of the Act, information on a matter mentioned in paragraph (2) (b) unless the information is readily accessible to the provider.

 “(4) However, if the Commissioner considers that information (being information on a matter mentioned in paragraph (2) (b)) that was not included in a statement under paragraph 13 (4) (a) of the Act given by a superannuation provider is necessary in connection with the operation of the Act or these Regulations, the Commissioner may require the provider to give that information.

Information to be given by a transferor superannuation provider (Act, paragraph 13 (4) (b))

 “3B. (1) A statement under paragraph 13 (4) (b) of the Act must include information (where applicable and if known to the superannuation provider) on the matters set out in Schedule 1B.

 “(2) Those amounts include:

• (a)

  matters required by paragraph 13 (4) (b) of the Act to be set out in the statement (which are marked with an asterisk* in the Schedule); and

• (b)

  matters that, under paragraph 13 (4) (b) of the Act, are required by these Regulations to be so set out (which are unmarked).

Information to be given to a transferor superannuation provider (Act, subsection 13 (4A))

 “3C. (1) For subsection 13 (4A) of the Act, a statement by a superannuation provider (the ‘destination superannuation provider’) to which any of a member’s contributed amounts are transferred by another superannuation provider must include information (where applicable and if known to the destination superannuation provider) on the matters set out in Schedule 1C.

 “(2) Subregulation (1) applies to a destination superannuation provider for a member only if, within the time allowed, the other superannuation provider requests information on a matter set out in Schedule 1C for the member.

 “(3) For subregulation (2), the time allowed is:

• (a)

  if the amounts were or are transferred in the 1996-97 financial year or the 1997-98 financial year—not later than 7 days before the notification date for the financial year in which the amounts were or are transferred; or

• (b)

  if the amounts were or are transferred in a later financial year—within 7 days after the day on which the amounts were or are transferred.

Assessment variation advice statement (Act, section 35)

 “3D. A statement under section 35 of the Act must include information (where applicable) on the matters set out in Schedule 1D for each member or former member for whom the superannuation provider:

• (a)

  receives an assessment of surcharge or determination of advance instalment; and

• (b)

  does not satisfy the assessment or determination.

Account reconciliation statement (Act, section 35)

 “3E. For section 35 of the Act, a statement relating to the payment of an amount under subsection 16 (6) of the Act must include information (where applicable) on the matters set out in Schedule 1E.”.

4.   Regulation 4 (Form of information to be given to the Commissioner)

4.1   Subregulation 4 (1):

After “given”, insert “by a person”.

4.2   Subregulation 4 (4):

Omit the subregulation, substitute:

 “(4) If a specified or approved form so provides, the person must:

• (a)

  sign the form or include identification of the person in the form; and

• (b)

  verify the information by a declaration as set out in the form.”.

5.   New Schedules 1A, 1B, 1C, 1D and 1E

5.1   After Schedule 1, insert:

 SCHEDULE 1A Regulation 3A

CONTRIBUTED AMOUNTS paid/transferred OUT STATEMENT—ADDITIONAL matters

Member Contributions Information

Information on the matters set out in the member contributions statement*

Contributed Amounts Paid/Transferred Out Information

Destination type

Name of destination superannuation provider*

Destination superannuation provider street address*

Destination superannuation provider postal address

Destination superannuation provider superfund number (SFN)

Destination superannuation provider member account number

Destination superannuation provider client identifier

Payment date

Transfer date

Paid/transferred amount and total amounts mentioned in subsection 13 (7) of the Act*

___________

 SCHEDULE 1B Regulation 3B

INFORMATION TO BE GIVEN BY A TRANSFERor SUPERANNUATION provider

Superannuation Provider Information

Superannuation provider’s contact details

Member Information

Member’s tax file number (if given to the provider in connection with the operation or possible future operation of the Act)

Member’s name

Member’s previous name (if any)

Member’s sex

Member’s date of birth

Member’s residential address

Employer Information

(Only required where the member’s residential address is not shown.)

Employer’s name

Employer’s trading name

Employer’s PAYE group number

Employer’s business address

Contributed Amounts Information

Financial year

Transferred amount and the total amounts mentioned in subsection 13 (7) of the Act*

Direct employer-contributed amount

Direct specified roll-over amount

Roll-in employer-contributed amount

Roll-in specified rollover amount

____________

 SCHEDULE 1C Regulation 3C

INFORMATION TO BE GIVEN TO A TRANSFERor SUPERANNUATION provider

Destination superannuation provider superfund number

Destination superannuation provider member account number

Destination superannuation provider client identifier

____________

 SCHEDULE 1D Regulation 3D

ASSESSMENT VAriation advice statement

Supplier Information

Information on the matters set out under the heading “Supplier Information” in Schedule 1.

Superannuation Provider Assessment Identity Data

Superannuation provider tax file number

Assessment Contact Person Data

System code

Contact name

Contact phone number

Contact fax number

Contact e-mail address

Assessment Review data

Assessment identifier

Assessment amount

Advance instalment amount

Assessment review reason codes

___________

 SCHEDULE 1E Regulation 3E

Account reconciliation statement

Supplier Information

Information on the matters set out under the heading “Supplier Information” in Schedule 1.

Superannuation Provider Information

Information on the matters set out under the heading “Superannuation Provider Information” in Schedule 1.

Member Account Information

Surcharge paid

Interest paid (if any) under subsection 16 (4) of the Act

Interest paid (if any) under section 21 or 22 of the Act

Total amount paid

_____________________________________________________

NOTES

1. Notified in the Commonwealth of Australia Gazette on 15 December 1997.

2. Statutory Rules 1997 No. 271.