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  • Statement by a supplier

    If an ABN is not quoted and you do not apply the no-ABN withholding rule, you must record the seller's details for all sales over $82.50. You can use the Scrap metal industry: statement by a supplier for this purpose or incorporate the required details into your normal invoicing system.

    Depending on the circumstances, you may require the seller to provide you with a specific reason or a general reason as to why the no-ABN withholding rule does not apply. If a specific reason is required, you must make reasonable enquiries to verify the explanation.

    There are strong penalties for sellers who make false statements about their business circumstances and the value of their transactions. You must maintain complete records that allow us to identify the seller and verify purchase transactions.

    Next steps:

    • Applying the code of compliance to decide whether you need to:  
      • apply the no-ABN withholding rule and withhold 47% (from 1 July 2017), or
      • obtain a valid Statement by a supplier.

    See also:

      Last modified: 30 Jun 2017QC 17300