New South Wales Consolidated Acts

UNCLAIMED MONEY ACT 1995 - SECT 27

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.