PAYG withholding from interest, dividends and royalties paid to non-residents

Payment summaries

If you pay interest, dividends, and royalties to foreign residents, you must issue payment summaries to your payees. Any 'free format' payment summary, receipt or remittance advice is acceptable, as long as it includes all of the following information:

• your name, ABN and branch number if applicable
• your payee's name, address, ABN if known or TFN if known
• the period in which you made the payment
• the total amount of gross payment you made, including the market value of non-cash benefits
• the total amount of tax you withheld.

Exception

You do not have to issue a payment summary if you are an agent who receives interest, dividends and royalties for foreign resident payees who are entitled or will become entitled to receive them. However, you must withhold from these payments and report the amounts you withheld to us.

Sections within Paying and reporting amounts you withhold

• Paying amounts you withhold to us
• Reporting amounts you withhold to us
• Payment summaries