Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
An entity mentioned in column 1 of an item of this table must:
(a) prepare a report in the *approved form setting out information about any transactions described in that item that happened during this period:
(b) give the report to the Commissioner on or before:
Note: See section 3AA .
Chapter 5 - Administration
PART 5-25
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RECORD-KEEPING AND OTHER OBLIGATIONS RELATING TO TAXPAYERS
Division 396
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Third party reporting
Subdivision 396-B
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Information about transactions that could have tax consequences for taxpayers
Operative provisions
SECTION 396-55
396-55
REPORTING TAX-RELATED INFORMATION ABOUT TRANSACTIONS TO THE COMMISSIONER
An entity mentioned in column 1 of an item of this table must:
(a) prepare a report in the *approved form setting out information about any transactions described in that item that happened during this period:
(i) a *financial year; or
(ii) such other period as the Commissioner specifies by legislative instrument for that item; and
(b) give the report to the Commissioner on or before:
(i) the 31st day after the end of that period; or
(ii) such other time after the end of that period as the Commissioner specifies by legislative instrument for that item;
unless section 396-65 , or a notice or determination under section 396-70 , provides that the entity is not required to do so.
Information to be reported by third parties about transactions | ||
Column 1 | Column 2 | |
Item | This entity: | must report information about this transaction: |
1 | a government related entity (within the meaning of the *GST Act), other than a *local governing body | the provision of a grant by the entity to an entity that has an *ABN |
2 | a government related entity (within the meaning of the *GST Act) | the provision of consideration (within the meaning of the *GST Act): |
(a) | by the entity to an entity; and | |
(b) | wholly or partly for a *supply of services; | |
unless the supply of services is merely incidental to a supply of goods (within the meaning of the GST Act) | ||
3 | a State or Territory | the transfer of a freehold or leasehold interest in real property situated in the State or Territory |
4 | *ASIC | a transaction about which data has been delivered to *ASIC under the *market integrity rules |
5 | a participant (within the meaning of Chapter 7 of the Corporations Act 2001 ) in an *Australian financial market | a transaction, involving the participant, that: |
(a) | results in a change to the type, name or number of *shares in a company, or units in a unit trust, that are held by another entity; and | |
(b) | is a transaction about which data is required to be delivered to *ASIC under the *market integrity rules | |
6 | a company whose *shares are listed for quotation in the official list of an *Australian financial market | a transaction that: |
(a) | results in a change to the type, name or number of *shares in the company that are held by an entity; and | |
(b) | is not a transaction about which data is required to be delivered to *ASIC under the *market integrity rules | |
7 | the trustee of a unit trust | a transaction that: |
(a) | results in a change to the type, name or number of units in the unit trust that are held by an entity; and | |
(b) | is not a transaction about which data is required to be delivered to *ASIC under the *market integrity rules | |
8 | the trustee of a trust (other than a unit trust) | a transaction that results in a change to the type, name or number of any *shares in a company, or units in a unit trust: |
(a) | that are held as assets of the trust; and | |
(b) | to which one or more entities are absolutely entitled as beneficiaries of the trust; | |
unless the trustee gives the Commissioner an *income tax return for the income year in which the transaction was entered into | ||
9 | an administrator of a payment system (within the meaning of the Payment Systems (Regulation) Act 1998 ) | a transaction involving an electronic payment if: |
(a) | the transaction is facilitated by the payment system on behalf of an entity; and | |
(b) | the administrator reasonably believes that the transaction: | |
(i) | provides a payment to the entity, or provides a refund or cash to a customer of the entity; and | |
(ii) | is for the purposes of a *business carried on by the entity | |
9A | an *eligible community housing provider | the issuing by the provider of a certificate under section 980-15 of the Income Tax Assessment Act 1997 |
10 | a company | the issuing by the company of a *share that could give rise to an entitlement to a *tax offset (or a modified CGT treatment) under Subdivision 360-A of the Income Tax Assessment Act 1997 |
11 | an entity that makes a *supply of a cleaning service and has an *ABN | the provision of consideration (within the meaning of the *GST Act) by the entity to another entity wholly or partly for the *supply by the other entity of a cleaning service, unless: |
(a) | the entities are *members of the same *consolidated group or *MEC group; or | |
(b) | Division 12 requires that an amount be withheld from the payment of the consideration | |
12 | an entity that makes a *supply of a courier service or a road freight service and has an *ABN | the provision of consideration (within the meaning of the *GST Act) by the entity to another entity wholly or partly for the *supply by the other entity of a courier service or a road freight service, unless: |
(a) | the entities are *members of the same *consolidated group or *MEC group; or | |
(b) | Division 12 requires that an amount be withheld from the payment of the consideration | |
13 | an entity that makes a *supply of a security, investigation or surveillance service and has an *ABN | the provision of consideration (within the meaning of the *GST Act) by the entity to another entity wholly or partly for the *supply by the other entity of a security, investigation or surveillance service, unless: |
(a) | the entities are *members of the same *consolidated group or *MEC group; or | |
(b) | Division 12 requires that an amount be withheld from the payment of the consideration | |
14 | an entity that makes a *supply of an information technology service and has an *ABN | the provision of consideration (within the meaning of the *GST Act) by the entity to another entity wholly or partly for the *supply by the other entity of an information technology service, unless: |
(a) | the entities are *members of the same *consolidated group or *MEC group; or | |
(b) | Division 12 requires that an amount be withheld from the payment of the consideration |
Note:
An administrative penalty applies to a failure to give the report by that time (see subsection 286-75(1) ). An administrative penalty applies for any false statements in the report (see section 284-75 ).
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