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03 Mar 14 End benefit notices - Div 293 tax

The ATO advises that under Subdiv 133-C of Schedule 1 to the Tax Administration Act 1953, a superannuation provider is required to provide an End benefit notice to the Commissioner stating the end-benefit cap amount and expected date of payment of the superannuation benefit where the provider has been advised that the Commissioner is keeping a deferred Div 293 tax debt account for the individual’s superannuation interest.

The provider must provide the notice within 14 days of the first of the following:

  • receiving a request to pay a superannuation benefit
  • the superannuation benefit becoming payable.

Further, the ATO advises that under Subdiv 133-C, an individual is required to provide an end benefit notice where they have requested their defined benefit superannuation provider to pay an end benefit from a superannuation interest, for which the ATO keeps a Div 293 tax deferred debt account. The individual must give this notice to the ATO within 21 days after requesting their benefit.

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