26Notices relating to income (including foreign-sourced income)

26 Notices relating to income (including foreign-sourced income)

(1) For the purposes of subsection 47C(4) of the Act, a notice a person gives to the Commissioner under subsection 47C(3) of the Act must contain: (a) the person’s name; and (b) the person’s date of birth; and (c) the person’s country of residence; and (d) unless subsection (2) applies—the person’s occupation; and (e) unless subsection (2) applies—the amount of the person’s income (including foreign-sourced income) for the income year; and (f) unless subsection (2) applies—the method used to work out that foreign‑sourced income; and (g) if the overseas assessed method was used and unless subsection (2) applies—the person’s identification number used for tax purposes by the taxation authority of a foreign country that made the assessment of the person’s income. (2) A notice may not contain the content in paragraphs (1)(d), (e), (f) and (g) if: (a) the person’s income (including foreign-sourced income) for the income year is no more than 25% of the minimum repayment income for that income year; and (b) the notice the person gives to the Commissioner includes a declaration to that effect.