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  • H Gross payments where ABN not quoted

    Did the SMSF receive payments from which the payer had withheld an amount because the SMSF had not provided its ABN?


    Leave H blank. Go to I.


    Read on.

    Write at H the gross value of all payments made to the SMSF where payers withheld an amount because the SMSF had not provided its ABN. The amount at H should not be reduced by any loss or outgoing related to the income.

    The amount that you write at H must be the gross value, that is, it must include both the amounts paid to the SMSF and the amounts that payers withheld.

    The payers must give you a PAYG payment summary (or equivalent information) with their payment or as soon as practical after they make the payment. The PAYG payment summary:

    • includes the information that you need to complete at H
    • must be kept with your tax records. For more information see Record-keeping requirements.

    You must also:

    If you include an amount at H that is exempt current pension income, include it also at Y Exempt current pension income.

    For more information, see:

    • PAYG withholding
    • Division 18 of Schedule 1 of the Taxation Administration Act 1953.

    Example: PAYG withheld because ABN not quoted

    In 2017–18, SMSF H received $5,100 from a company. That company also gave SMSF H a PAYG payment summary which stated that the company had withheld $4,900 tax from the payment.

    SMSF H reports:

    H Gross payments where ABN not quoted in Section B $10,000

    H3 Credit for tax withheld – where ABN or TFN not quoted (non-individual) in Section D $4,900

    End of example
    Last modified: 30 Mar 2021QC 55254