Division 293 release authority

Superannuation Law requires the release to the ATO part of a member’s benefits to pay the member’s assessed Division 293 Tax when the ATO serves on the Trustee a “Release Authority for Division 293 tax” (ATO Release Authority).

This Written Resolution resolution is to acknowledge that the ATO has served on the Trustee an ATO Release Authority in respect of a member and has requested the Trustee to release all or part of the member’s benefits to the ATO to pay all or part of the assessed Division 293 Tax and to authorise the processing and implementation of that request and to authorise the release of monies to the ATO on account of a Division 293 Tax liability of a member.

This is a template document.  It will have to be modified for the particular requirements of each superannuation fund. 

It is suitable for superannuation funds which have adopted the SUPERCentral Governing Rules or the Townsends Lawyers Governing Rules as the Governing Rules for the superannuation fund.

For superannuation funds governed by non-SUPERCentral or non-Townsends Business & Corporate Lawyers governing rules, please review the applicable trust deed and governing rules to determine if the template is suitable for the Superannuation Fund.

This resolution can be used by both corporate and by individual trustees.

Directions for the release of monies are found in the information page of the document set.

The document set includes

• Detailed instruction sheet
• Release authority; and
• Written resolution

For further information or assistance please call the SUPERCentral Help Desk on 02 8296 6266 or make an enquiry.