Exposure Draft – Using TFNs as a Primary Locator and to Facilitate Account Consolidation
23 Nov 2011
Treasury has released draft regulations to support legislation providing for the expanded use of tax file numbers. The legislation provides that superannuation fund trustees and retirement savings account providers can use tax file numbers as a primary locator of member accounts, and from 1 January 2012, in order to facilitate consolidation of multiple member accounts. Submissions for this consultation are due by Friday, 25 November 2011.