27 Application of certain provisions of Taxation Administration Act 1996
(1) Parts 5, 7, 8, 9, 10 and 11 of the Taxation Administration Act 1996 (other than the excluded provisions) are to be read as if they form part of this Act, subject to the following modifications:(a) a reference to a tax default is to be read as a reference to a failure to pay the whole or part of money payable under this Act,(b) a reference to a taxpayer is to be read as a reference to an enterprise or a public sector superannuation provider,(c) a reference to a taxation law is to be read as a reference to this Act,(d) a reference to a tax is to be read as a reference to money payable to the Chief Commissioner under this Act,(e) a reference to a person’s tax liability is to be read as a reference to the liability of an enterprise or a public sector superannuation provider to pay unclaimed money or unclaimed superannuation benefits under this Act.(2) Nothing in this section entitles a public sector superannuation provider to deduct the amount of any interest or penalty tax payable by virtue of the operation of subsection (1) from the amount of a superannuation benefit payable to any person or as part of the administrative, management or other costs of the scheme.(3) Nothing in this section entitles an enterprise to deduct the amount of any interest or penalty tax payable by virtue of the operation of subsection (1) from the amount of any unclaimed money payable to any person.(4) For the purposes of this section, the excluded provisions are the following provisions of the Taxation Administration Act 1996:(a) Division 2 of Part 7,(b) sections 60 and 63,(c) Divisions 2A and 3 of Part 9,(d) Division 5 of Part 10,(e) sections 111 and 126–128.
28 General power to make assessment
(1) The Chief Commissioner may make an assessment of the liability of an enterprise to pay unclaimed money, or of a public sector superannuation provider to pay unclaimed superannuation benefits, to the Chief Commissioner.(2) The Chief Commissioner may make one or more assessments of the liability of an enterprise to pay unclaimed money, or of a public sector superannuation provider to pay unclaimed superannuation benefits.(3) An assessment may be made only if:(a) the enterprise or public sector superannuation provider fails to lodge a return by the due date, or(b) the Chief Commissioner is of the opinion that an incorrect return has been lodged by the enterprise or public sector superannuation provider.(4) An assessment of a liability may consist of a determination that there is not a liability to pay unclaimed money or unclaimed superannuation benefits to the Chief Commissioner.(5) The Chief Commissioner may withdraw an assessment under this section at any time after the date of written notice of the assessment is given to the relevant enterprise or public sector superannuation provider, whether or not the amount specified in the assessment has been paid.(6) A notice of assessment issued following a failure to pay the whole or part of money under section 10 (1) or 13B (1) must specify any interest and penalty tax payable.(7) The validity of an assessment is not affected because a provision of this Act has not been complied with.
29 Enterprises and public sector superannuation providers that are not natural persons
Any act or thing that an enterprise or a public sector superannuation provider is required or permitted to do by or under this Act may, in the case of an enterprise or public sector superannuation provider that is not a natural person, be done on behalf of the enterprise or public sector superannuation provider by an officer of the enterprise or public sector superannuation provider.
(1) If the Chief Commissioner or an authorised officer is of the opinion that any matter in a record of an enterprise that relates (or may at some future time relate) to unclaimed money is incorrect, the Chief Commissioner may direct the enterprise to note the record with details of what the Chief Commissioner believes to be the true position concerning the matter.(2) The enterprise must comply with any such direction.Maximum penalty (subsection (2)): 5 penalty units.
31 Disclosure of certain information prohibited
(1) A person engaged in the administration of this Act must not disclose any information obtained in connection with an application for payment of unclaimed money or an unclaimed superannuation benefit under this Act, including any information obtained for the purpose of determining the application.Maximum penalty: 100 penalty units.
(2) This section does not prohibit a disclosure that is made:(a) with the consent of the person to whom the information relates or at the request of a person acting on behalf of the person to whom the information relates, or(b) in connection with the administration or execution of this Act or a taxation law (within the meaning of the Taxation Administration Act 1996), including for the purpose of any legal proceedings arising out of this Act or a taxation law or a report of any such proceedings, or(c) to the Commissioner of Taxation holding office under a law of the Commonwealth, or a person authorised by the Commissioner of Taxation.
32 Chief Commissioner may process unclaimed money claims under other Acts
(1) The Chief Commissioner is authorised to process claims for the payment or repayment of unclaimed trust money on behalf of the Treasurer.(2) For that purpose, Part 4 (other than sections 16, 18 and 25A) applies in respect of unclaimed trust money in the same way as it applies to unclaimed money paid to the Chief Commissioner under this Act.(3) Anything done or omitted to be done by the Chief Commissioner under this Act in respect of unclaimed trust money is taken, for the purposes of the Legal Profession Act 2004 and the Trustee Companies Act 1964, to have been done or omitted by the Treasurer.(4) In this section, unclaimed trust money means money that is paid to the Treasurer under:(a) section 266 of the Legal Profession Act 2004, or(b) section 26 of the Trustee Companies Act 1964.
46 Liability of officers for offences by enterprises
(1) If an enterprise contravenes, whether by act or omission, any provision of this Act or the regulations, each officer of the enterprise is taken to have contravened the same provision if the officer knowingly authorised or permitted the contravention.(2) A person may be proceeded against and convicted under a provision pursuant to this section whether or not the enterprise has been proceeded against or convicted under that provision.(3) Nothing in this section affects any liability imposed on an enterprise for an offence committed by the enterprise against this Act or the regulations.
Proceedings for an offence against this Act or the regulations:(a) may be taken only by a person authorised in writing by the Chief Commissioner, and(b) are to be dealt with summarily by the Local Court.
48 Lodgment with Chief Commissioner
For the purposes of this Act, a thing is lodged with the Chief Commissioner if it is:(a) lodged at an office of the Chief Commissioner, or(b) sent by post addressed to the Chief Commissioner at an office of the Chief Commissioner, or(c) sent by facsimile transmission or other electronic means notified by the Chief Commissioner as being an available means of communication, or(d) delivered to the facilities of a document exchange addressed to the Chief Commissioner if the Chief Commissioner has indicated that documents may be delivered to the Chief Commissioner in that way, or(e) sent by any means provided for the service of documents by another Act or law.
Nothing in this Act affects the operation of any other law that provides for the manner in which unclaimed money is to be dealt with.
(1) The Governor may make regulations, not inconsistent with this Act, for or with respect to any matter that by this Act is required or permitted to be prescribed, or that is necessary or convenient to be prescribed for carrying out or giving effect to this Act.(2) A regulation may impose a penalty not exceeding 2 penalty units for a breach of the regulation.
The Unclaimed Money Act 1982 is repealed.
53 Savings, transitional and other provisions
Schedule 2 has effect.
(1) The Treasurer is to review this Act to determine whether the policy objectives of the Act remain valid and whether the terms of the Act remain appropriate for securing those objectives.(2) The review is to be undertaken as soon as possible after the period of 5 years from the date of assent to this Act.(3) A report on the outcome of the review is to be tabled in each House of Parliament within 12 months after the end of the period of 5 years.