(1) Money held in a trust account by a former licensee or the personal representative of a deceased licensee is unclaimed money for the purposes of this Act but section 10 does not apply to the money.
(1) An enterprise that holds unclaimed money on 30 June in any year must, within 4 months after that date (or such longer period as the Chief Commissioner may in a particular case allow), lodge with the Chief Commissioner a return relating to that money in a form approved by the Chief Commissioner. (1A) If, after 30 June and before the enterprise lodges the return with the Chief Commissioner, the enterprise pays any unclaimed money to the owner of the unclaimed money, the return must contain such particulars relating to the amounts so paid as are required by the form.
(1) A public sector superannuation provider must lodge with the Chief Commissioner a return, in a form approved by the Chief Commissioner, of all unclaimed superannuation benefits in the fund that is managed or provided by the public sector superannuation provider as at the end of each half-year. (2) The public sector superannuation provider must lodge the return—
(a) in relation to a half-year ending on 30 June, on or before the following 1 November, and (b) in relation to a half-year ending on 31 December, on or before the following 1 May, or on or before such later date as the Chief Commissioner may in a particular case allow by notice in writing to the public sector superannuation provider whether before or after 1 November or 1 May, as the case requires.
(1) A public sector superannuation provider that lodges a return must retain a copy of the return at the public sector superannuation provider’s registered office or principal place of operation in the State (or, if the public sector superannuation provider is a natural person, at a place nominated by the person specified in the return). Maximum penalty—2 penalty units.
(1) An enterprise that pays an amount of unclaimed money to the owner of the money, after having paid the same amount to the Chief Commissioner under this Act, is entitled to recover the amount paid to the Chief Commissioner from the Chief Commissioner.
(1) Parts 5, 7, 8, 9, 10 and 11 of the (other than the excluded provisions) are to be read as if they form part of this Act, subject to the following modifications— Taxation Administration Act 1996
(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.
(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.
(1) The Chief Commissioner is authorised to process claims for the payment or repayment of unclaimed trust money on behalf of the Treasurer.
(Section 53)
(1) The amendments made to this Act by the (other than the amendments to section 27) are taken to have effect on and from 1 July 2007. State Revenue Legislation Amendment Act 2008