Taxation Administration Act 1953I, Deborah Anne Jenkins, Deputy Commissioner of Taxation, make this instrument under subsection 389-10(1) of Schedule 1 to the Taxation Administration Act 1953.
1. Name of instrument
This is the Taxation Administration - Single Touch Payroll - Exemption for Insolvency Practitioners and Employers subject to their appointment instrument.
This instrument commences on the day following its registration and applies retrospectively from 1 July 2018 for the 2018-2019 financial year.
This instrument applies to entities that:
- are employers that pay an amount described in Column 1 of the table in subsection 389-5(1) of Schedule 1 to the Taxation Administration Act 1953 during the 2018-2019 financial year and that are subject to the appointment of an insolvency practitioner; or
- are engaged during the 2018-2019 financial year as an insolvency practitioner appointed for an employer described in paragraph (a) above.
During the 2018-19 financial year, an entity to which this instrument applies is exempt from reporting under section 389-5 of Schedule 1 to the Taxation Administration Act 1953:
- if the entity is an employer covered by paragraph 3(a) above - in relation to payments made after the commencement of the appointment of the insolvency practitioner; or
- if the entity is an insolvency practitioner covered by paragraph 3(b) above - in relation to:
- payments made by an employer covered by paragraph 3(a) above, for which they are engaged as an insolvency practitioner; and
- payments made by them in their capacity as an insolvency practitioner covered by paragraph 3(b) above.
For the purposes of this instrument, the term 'insolvency practitioner' is used to describe a class of professionals who are:
- appointed to manage a company or its property under the provisions of Chapter 5 of the Corporations Act 2001; or
- appointed to manage the affairs of an individual under the Bankruptcy Act 1966.
5 March 2019
Deborah Anne Jenkins
Deputy Commissioner of Taxation
Deborah Anne Jenkins
Registration Number: F2019L00440
Registration Date: 28 March 2019
Related Explanatory Statements:STP 2019/2 - Explanatory statement