Pay as you go (PAYG) withholding applies to several payments including:
- payments for a supply where no Australian business number (ABN) is quoted and no exemptions for quoting applied to the supplier
- payments arising from investments where no TFN or ABN is quoted, and
- certain payments to foreign residents prescribed in the Regulations.
If the payer withheld an amount from a payment to the AMIT because the AMIT did not quote an ABN, the payer should have sent a PAYG payment summary – withholding where ABN not quoted to the trust.
A payer may issue a receipt, remittance advice or similar document in place of the PAYG payment summary – withholding where ABN not quoted. If the AMIT did not receive or has lost its copy of a payment summary, contact the payer responsible and request a signed photocopy of the payer’s copy.
Where income subject to foreign resident withholding was included in a distribution received from other trusts or partnerships, a Non-individual PAYG payment summary schedule 2021 is not required for these distributions because they do not have an associated payment summary.
Enter the AMIT’s TFN and name in the appropriate boxes at the top of the schedule.
From each PAYG payment summary – withholding where ABN not quoted issued to the AMIT from a payer, record on the schedule the:
- payer’s ABN (or withholding payer number)
- total tax withheld
- gross payment
- payer’s name.
Once you have completed the information, lodge the schedule with the AMIT tax return.
You do not need to send us copies of any payment summary. Instead, ensure you keep a record of any payment summary you have been provided with the AMIT’s tax records.