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 16-170   FORM AND CONTENT OF PAYMENT SUMMARY  

16-170(1)  


A payment summary (except one relating to section 12-175 or 12-180 or Subdivision 12-H) is a written statement that:


(a) names the payer and the recipient; and


(b) if the recipient has given the recipient's *tax file number or *ABN to the payer - states the tax file number or ABN; and


(c) states the total of the *withholding payments (if any) that it covers, and the total of the *amounts withheld by the payer from those withholding payments; and


(d) specifies the *financial year in which the withholding payments were made; and


(e) specifies the *reportable fringe benefits amount (if any) that it covers and the income year to which that amount relates; and


(f) specifies the *reportable employer superannuation contributions (if any) that it covers and the income year to which those contributions relate; and


(g) is in the *approved form.

16-170(1AAA)  
A payment summary relating to section 12-175 or 12-180 is a statement that:


(a) names the trustee and the beneficiary; and


(b) states the total of the *withholding payments (if any) that it covers, and the total of the *amounts withheld by the trustee from those withholding payments; and


(c) specifies the income year of the trust to which it relates; and


(d) is in the *approved form.

16-170(1AA)  
A payment summary relating to Subdivision 12-H is a statement that:


(a) names the payer and the recipient; and


(b) if the recipient has given the recipient's *tax file number or *ABN to the payer - states the tax file number or ABN; and


(c) states the total of the *withholding payments (if any) that it covers, and the total of the *amounts withheld by the payer from those withholding payments; and


(d) specifies the income year of the relevant *withholding MIT to which it relates.

16-170(1A)  
For any of the *withholding payments to which paragraph 16-155(2)(aa) applies, paragraph (1)(d) is taken to refer to the *financial year preceding the financial year in which the withholding payments were received.

16-170(2)  
The Commissioner may, in writing, require particular information to be included in a *payment summary or a class of payment summaries.

16-170(3)  


A *payment summary may consist of 2 or more statements that each complies with subsection (1) and together cover what section 16-155, 16-156, 16-160, 16-165, 16-166 or 16-167 (as appropriate) requires the payment summary to cover.

16-170(4)  


The Commissioner may vary any requirements under subsection (1), (1AAA), (2) or (3) by written notice given to an entity. The Commissioner may do so in such instances and to such extent as the Commissioner thinks fit.



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