Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-5 - PAY AS YOU GO (PAYG) WITHHOLDING  

Division 16 - Payer ' s obligations and rights  

Subdivision 16-C - To provide information  

To recipients of withholding payments

SECTION 16-157   PAYMENT SUMMARY FOR SUBDIVISION 12-H  

16-157(1)    

An entity (the payer ) must give a *payment summary to another entity (the recipient ) if the payer made *withholding payments covered by section 12-385 or 12-390 to the recipient in relation to *fund payments made by a particular *withholding MIT (the paying trust ) in relation to an income year of that trust.

Note:

The entity may be the withholding MIT itself or a custodian or other entity.

16-157(2)    
The *payment summary:

(a) must cover each of the *withholding payments mentioned in subsection (1); and

(b) may be in electronic form; and

(c) must be given:

(i) not later than 14 days after the end of 6 months after the end of the income year of the *withholding MIT in relation to which the relevant *fund payments were made; or

(ii) within a longer period allowed by the Commissioner.