Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 102UV

  (1)   This section applies if a trustee beneficiary in respect of:

  (a)   a share of the net income of a closely held trust for a year of income that is included in the assessable income of the trustee beneficiary of the trust under section   97; or

  (b)   a share of a tax - preferred amount of a closely held trust to which the trustee beneficiary of the trust is presently entitled at the end of a year of income;

quotes his or her tax file number to the trustee of the closely held trust in connection with that trustee making a correct TB statement about that share.

  (2)   Section   8WB of the Taxation Administration Act 1953 does not prohibit the trustee of the closely held trust from:

  (a)   recording the tax file number or maintaining such a record; or

  (b)   using the tax file number in a manner connecting it with the identity of the trustee beneficiary; or

  (c)   divulging or communicating the tax file number to a third person;

in connection with that trustee making a correct TB statement about that share.