Interest‑bearing account with a financial institution
The person in whose name the account is held
The financial institution
2
Interest‑bearing deposit (other than a deposit to the credit of an account) with a financial institution
The person in whose name the deposit is made
The financial institution
3
Loan of money to a government body or to a body corporate (other than a deposit to the credit of an account referred to in item 1, a deposit to which item 2 applies or a loan made in the ordinary course of the business of providing business or consumer finance by a person who carries on that business)
The person in whose name the money is lent
The government body or body corporate
4
Deposit of money with a solicitor for the purpose of:<br>(a) being invested by the solicitor; or<br>(b) being lent under an agreement to be arranged by or on behalf of the solicitor
The person for whose benefit the money is to be invested or lent
The solicitor
5
Units in a unit trust
The person in whose name the units are held
The manager of the unit trust
6
Shares in a public company
The shareholder
The company
7
An investment‑related betting chance
The betting investor
The betting investment body
(2) In relation to an investment of a kind mentioned in column 1 of an item in the table in subsection (1):
(a) the investor is the person specified in column 2 of the item; and
(b) the investment body is the person specified in column 3 of the item.
(3) Where:
(a) by virtue of subsection (2), a body corporate other than an entrepot nominee company is the investor in relation to an investment; and
(b) another person is entitled to receive from the body corporate all or part of the income from the investment;
the person’s right to receive the income or part of the income is an investment to which this Part applies.
(3A) In the case of an investment that is a relevant Part VA investment for the purposes of section 221YHZLA, subsection (3) does not apply to a person’s right to receive income if:
(a) the body corporate concerned has received a payment of the kind referred to in paragraph 221YHZLA(2)(a); and
(b) the circumstances referred to in subparagraph 221YHZLA(2)(c)(i) or (ii) in relation to an applicant exist in relation to the body corporate.
(4) In relation to an investment referred to in subsection (3):
(a) the person entitled to receive income is the investor; and
(b) the body corporate is the investment body.
(5) Subsection (4) does not affect a person’s status or obligations as an investor by virtue of subsection (2).
(6) In determining whether a person in the capacity of trustee of a trust estate is an investor in relation to an investment, it is irrelevant that the name of the trust estate, the name of any actual or potential beneficiary or any other indication of trust is shown on any documentation in connection with the investment.
(7) Subsection (6) is enacted for the guidance and information of investors and investment bodies and does not, by implication, affect the meaning of other provisions of this Act dealing with trustees and trust estates.
(8) If subparagraph 26AJ(1)(a)(ii) and paragraphs 26AJ(1)(b), (c), (d), (e), (f) and (g) apply in relation to the payment or crediting of an amount to a person, being the taxpayer referred to in subsection 26AJ(1), then:
(a) for the purposes of this section:
(i) the betting chance referred to in paragraph 26AJ(1)(c) is an investment‑related betting chance; and
(ii) the person is the betting investor in relation to the investment‑related betting chance; and
(iii) the investment body referred to in paragraph 26AJ(1)(c) is the betting investment body in relation to the investment‑related betting chance; and
(b) for the purposes of this Part, and for the purposes of Subdivision 12‑E in Schedule 1 to the Taxation Administration Act 1953:
(i) the betting chance referred to in paragraph 26AJ(1)(c) is taken to be an investment; and
(ii) the amount paid or credited is taken to be income in respect of the investment.
(9) For the purposes of subsection (3), an entrepot nominee company is a body corporate that is:
(a) controlled solely by a securities dealer or by 2 or more persons each of whom is a securities dealer; and
(b) operated for the sole purpose of facilitating settlement of security transactions.
202DB Quotation of tax file numbers in connection with investments
(1) A person who is an investor in relation to an investment to which this Part applies may quote the person’s tax file number to the investment body in connection with the investment.
(2) Where:
(a) a person holds an investment on behalf of another person; and
(b) the first‑mentioned person does not have a tax file number in his or her capacity of trustee of a trust estate in relation to the investment;
the first‑mentioned person may quote his or her tax file number to the investment body in connection with the investment and, for the purposes of this Part, that person is to be taken to have quoted the investor’s tax file number in connection with the investment.
202DC Method of quoting tax file number
(1) A person quotes a tax file number to an investment body by informing the body of the number in a manner approved by the Commissioner.
(2) The investment body may be so informed by the person or by another person acting for that person.
(3) If a person becomes an investor as a result of a transaction carried out through a securities dealer, the person shall be taken to have quoted the person’s tax file number to the investment body concerned if the dealer is informed of the number.
202DD Investor excused from quoting tax file number in certain circumstances
Where:
(a) at a particular time a person becomes an investor in relation to an investment to which this Part applies by virtue of acquiring shares in a public company; and
(b) at that time, the person has quoted, or is taken to have quoted, a tax file number in connection with an existing investment consisting of a shareholding in that company; and
(c) the company has not, since the quotation of the number in connection with the existing investment, informed the person that the company has lost the person’s tax file number;
the person is to be taken to have quoted a tax file number in connection with the first‑mentioned investment.
202DDB Quotation of tax file number in connection with indirectly held investment
(1) If, apart from this section:
(a) either of the following subparagraphs applies:
(i) both of the following conditions are satisfied:
(A) a body corporate (in this section called the interposed entity) is the investor in relation to an investment (in this section called the secondary investment) with an investment body (in this section called the secondary investment body);
(B) another person (in this section called the primary investor) is entitled to receive from the interposed entity all or part of the income from the secondary investment (which right to receive the income or part of the income is in this section called primary investment);
(ii) both of the following conditions are satisfied:
(A) a person (in this section also called the primary investor) is the investor in relation to an investment (in this section also called the primary investment) covered by item 4 in the table in subsection 202D(1), being a deposit of money with a solicitor (in this section also called the interposed entity);
(B) as a result of carrying out the purpose for which that investment was made, the interposed entity is the investor in relation to another investment (in this section also called the secondary investment) with an investment body (in this section also called the secondary investment body); and
(b) either:
(i) the secondary investment has a descriptive title which identifies all the primary investors; or
(ii) the conditions set out in the regulations are satisfied;
the following provisions have effect for the purposes of this Part and Subdivision 12‑E in Schedule 1 to the Taxation Administration Act 1953:
(c) the primary investor may quote his or her tax file number under section 202DB to the secondary investment body in connection with the secondary investment as if he or she were the investor in relation to the secondary investment;
(d) if the primary investor quotes his or her tax file number as mentioned in paragraph (c)—the interposed entity is taken to have quoted his or her tax file number to the secondary investment body in connection with the secondary investment;
(e) the interposed entity is not entitled to actually quote his or her tax file number to the secondary investment body in connection with the secondary investment;
(f) the interposed entity is taken not to be an investment body in relation to the primary investment.
(2) If there are 2 or more primary investors in relation to a primary investment, all the primary investors are taken to have quoted their tax file numbers as mentioned in paragraph (1)(c) if, and only if:
(a) all of those primary investors are persons who, for the purposes of this Part, are taken, by section 202EE, to have quoted their tax file numbers under this Division in connection with the primary investment; or
(b) if:
(i) paragraph (a) does not apply; and
(ii) all of those primary investors are covered by any or all of the following categories:
(A) persons who, for the purpose of this Part, are taken, under section 202EE, to have quoted their tax file numbers under this Division in connection with the primary investment;
(B) persons to whom section 202EB applies;
(C) entities mentioned in paragraph 202EC(1)(a); and
(iii) all of the following conditions are satisfied in relation to at least one of those primary investors:
(A) the primary investor is covered by sub‑subparagraph (ii)(B) or (C);
(B) the primary investor gives to the secondary investment body the information mentioned in subsection 202EB(1) or 202EC(1) as if the primary investor were the investor in relation to the secondary investment;
(C) as a result of the giving of that information, the primary investor would be taken, under section 202EB or 202EC, to have quoted his or her tax file number under this Division in connection with the secondary investment; or
(c) at least one of those primary investors:
(i) has a tax file number; and
(ii) has quoted that number under section 202DB to the secondary investment body in connection with the secondary investment as if he or she were the investor in relation to the secondary investment.
202DE Securities dealer to inform the investment body of tax file number
Where:
(a) a person becomes an investor as a result of a transaction carried out through a securities dealer; and
(b) the person informs the dealer of the person’s tax file number;
the dealer shall inform the investment body concerned of the person’s tax file number.
202DF Effect of incorrect quotation of tax file number
(1) If the Commissioner is satisfied:
(a) that the tax file number quoted to an investment body in relation to an investment:
(i) has been cancelled or withdrawn since it was quoted; or
(ii) is otherwise wrong; and
(b) that the investor has a tax file number;
the Commissioner may give to the investment body concerned notice of the incorrect statement and the investor’s tax file number.
(2) If a notice is given under subsection (1), the investor shall be regarded, for the purposes of this Part, as having always stated the investor’s tax file number in connection with the investment.
(3) If:
(a) the Commissioner is satisfied that the tax file number quoted to an investment body in relation to an investment:
(i) has been cancelled since it was quoted; or
(ii) is for any other reason not the investor’s tax file number; and
(b) the Commissioner is not satisfied that the investor has a tax file number;
the Commissioner may, by written notice given to the investment body concerned, inform the investment body accordingly.
(4) A notice under subsection (3) takes effect on the day specified in the notice, being a day not earlier than the day on which a copy of the notice is given to the investor under subsection (5).
(5) The Commissioner shall give a copy of any notice under subsection (3) to the investor concerned, together with a written statement of the reasons for the decision to give the notice.
(6) On and from the day on which a notice under subsection (3) takes effect, the investor concerned shall be taken not to have quoted the investor’s tax file number in connection with the investment.
202DG Investments held jointly
(1) Where 2 persons are jointly entitled to the property or rights that constitute an investment to which this Part applies, neither person shall be taken to have quoted the person’s tax file number in connection with the investment unless both persons have quoted their tax file numbers under this Division in connection with the investment.
(2) Where more than 2 persons are jointly entitled to the property or rights that constitute an investment to which this Part applies, all of the persons are to be taken to have quoted their tax file numbers in connection with the investment if and only if:
(a) where one of those persons has a tax file number and is not an exempt person in relation to the investment—that person has quoted that number, and at least one of the other persons is, for the purposes of this Part, to be taken to have quoted his or her tax file number, under this Division in connection with the investment; or
(b) where 2 or more of those persons have tax file numbers and are not exempt persons in relation to the investment—at least 2 of those persons have quoted their own tax file numbers under this Division in connection with the investment; or
(c) in any other case—at least 2 of those persons are, for the purposes of this Part, to be taken to have quoted their tax file numbers under this Division in connection with the investment.
(2A) A reference in subsection (2) to an exempt person in relation to an investment is a reference to a person who, for the purposes of this Part, is to be taken to have quoted his or her tax file number under this Division in connection with the investment although the person has not actually done so.
(3) This section does not apply in relation to persons who are jointly entitled to property or rights merely because they are partners in a partnership.
(4) This section does not apply in relation to investments covered by section 202DDB.
202DH Tax file number quoted for superannuation or surcharge purposes taken to be quoted for purposes of the taxation of eligible termination payments
(1) If a person (the first person) who is a beneficiary of an eligible superannuation entity or of a regulated exempt public sector superannuation scheme has quoted his or her tax file number to the trustee of the entity or scheme in connection with the operation or possible future operation of the Superannuation Industry (Supervision) Act 1993, the Superannuation Contributions Tax (Assessment and Collection) Act 1997, the Superannuation (Unclaimed Money and Lost Members) Act 1999 or the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997, the first person is taken, so long as he or she continues to be such a beneficiary, to have made a TFN declaration in relation to the trustee that has effect under Division 3.
(2) In this section and section 202DHA:
eligible superannuation entity has the same meaning as in the Superannuation Industry (Supervision) Act 1993.
regulated exempt public sector superannuation scheme has the same meaning as in Part 25A of the Superannuation Industry (Supervision) Act 1993.
202DHA Tax file number quoted for Division 3 purposes taken to have been quoted for superannuation purposes
If:
(a) a person has on or after 1 July 2007 made a TFN declaration in relation to a payer; and
(b) the person is a beneficiary of an eligible superannuation entity or of a regulated exempt public sector superannuation scheme or is an RSA holder; and
(c) the payer makes a contribution to the person’s eligible superannuation entity or regulated exempt public sector superannuation scheme or RSA for the benefit of the person;
the person is taken to have authorised the payer to inform the trustee of the superannuation entity or scheme or the RSA provider of the person’s tax file number.
202DI Tax file number quoted for RSA purposes taken to be quoted for purposes of the taxation of superannuation benefits
If a person (the first person) who is the holder of an RSA has quoted his or her tax file number to the provider of the RSA in connection with the operation or possible future operation of the Retirement Savings Accounts Act 1997, the first person is taken, so long as he or she continues to be the holder of the RSA, to have made a TFN declaration in relation to the provider of the RSA that has effect under Division 3.
202DJ Tax file number quoted for purposes of taxation of superannuation benefits taken to be quoted for surcharge purposes
(1) If a person who is:
(a) a beneficiary of an eligible superannuation entity or of a regulated exempt public sector superannuation scheme; or
(b) a member of a constitutionally protected superannuation fund; or