Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).

Ch 5 title inserted by No 73 of 2006 , s 3 and Sch 5 item 44, effective 1 July 2006.

Pt 5-25 heading substituted by No 162 of 2015, s 3 and Sch 4 item 16, effective 30 November 2015. The heading formerly read:

PART 5-25 - RECORD-KEEPING AND OTHER OBLIGATIONS OF TAXPAYERS

Pt 5-25 inserted by No 91 of 2000.

Div 396 heading substituted by No 162 of 2015, s 3 and Sch 4 item 17, effective 30 November 2015. The heading formerly read:

Division 396 - FATCA

Div 396 inserted by No 67 of 2014, s 3 and Sch 1 item 2, effective 30 June 2014. No 67 of 2014, s 3 and Sch 1 item 3 contains the following application provision:

3 Application   Application rules
(1)
Subject to subitem (2), the amendments made by this Schedule apply in relation to a U.S. Reportable Account that is maintained by a Reporting Australian Financial Institution on or after 1 July 2014.
(2)
The following provisions apply in relation to a payment that is made by a Reporting Australian Financial Institution on or after 1 July 2014:

(a) section 396-10 in Schedule 1 to the Taxation Administration Act 1953 (as inserted by this Schedule);

(b) any other provision inserted in that Schedule by this Schedule, to the extent that the provision relates to the section mentioned in paragraph (a). Permissions and elections
(3)
For the purpose of subitems (1) and (2), subsections 396-20(2) and (3) in Schedule 1 to the Taxation Administration Act 1953 (as inserted by this Schedule) apply in determining the meaning of a term used in those subitems.

Subdiv 396-B inserted by No 162 of 2015, s 3 and Sch 4 item 1, effective 30 November 2015. No 162 of 2015, s 3 and Sch 4 item 27 contains the following application provision:

27 Application of amendments  
27(1)
Subdivision 396-B in Schedule 1 to the Taxation Administration Act 1953 applies in relation to transactions entered into on or after:

(a) if table item 3 or 4 in section 396-55 in that Schedule describes the transaction - 1 July 2016; or

(b) otherwise - 1 July 2017.
27(2)
However, subparagraphs 396-55(a)(ii) and (b)(ii) in Schedule 1 to the Taxation Administration Act 1953 apply in relation to transactions entered into on or after:

(a) if table item 3 or 4 in section 396-55 in that Schedule describes the transaction - 1 July 2016; or

(b) otherwise - 1 July 2020.

S 396-55 amended by No 34 of 2019, s 3 and Sch 5 item 4, by inserting table item 9A, applicable in relation to records and disclosures of information made at or after 1 July 2019, whether the information was obtained before, at or after 1 July 2019.

S 396-55 amended by No 141 of 2018, s 3 and Sch 2 item 1, by substituting table item 12 and inserting table items 13 and 14, effective 1 January 2019. No 141 of 2018, s 3 and Sch 2 items 2 and 3 contain the following application provisions:

2 Application  
(1)
Item 12 of the table in the amended provision applies in relation to a road freight service transaction unless:

(a) the transaction happens before 1 July 2019; or

(b) the transaction happens during an alternative reporting period for item 12 that begins before 1 July 2019.
(2)
An inserted item applies to a transaction unless:

(a) the transaction happens before 1 July 2019; or

(b) the transaction happens during an alternative reporting period for the item that begins before 1 July 2019.
(3)
In this item:

alternative reporting period
means a period specified under subparagraph (a)(ii) of the amended provision.

amended provision
means section 396-55 in Schedule 1 to the Taxation Administration Act 1953 , as amended by item 1 of this Schedule.

inserted item
means either item 13 or 14 of the table in the amended provision.

road freight service transaction
means a transaction described in item 12 of the table that is not a transaction in relation to a courier service.

3 General exemptions  
(1)
As from 1 July 2019 or the commencement of this Schedule, whichever is the later, the Commissioner is taken to have:

(a) determined, under subsection 396-70(4) in Schedule 1 to the Taxation Administration Act 1953 , the matter in subitem (2); and

(b) revoked the determination of the matter in subitem 3(3) of Schedule 2 to the Treasury Laws Amendment (Black Economy Taskforce Measures No. 1) Act 2018 , as amended by the Commissioner if it has been amended.
(2)
Where the amended provision requires an entity to prepare and give a report for a transaction that is described in item 12 of the table in that provision and that happens during a particular period (the reporting period ), the entity is not so required if:

(a) the total value of the consideration that:

(i) is received by the entity during the reporting period; and

(ii) relates to the supply by the entity, including by a contractor or subcontractor on behalf of the entity, of a courier service or a road freight service;

is less than 10% of the entity ' s relevant GST turnover as at the end of the reporting period; and

(b) the transaction is not described in another item of the table in the amended provision; and

(c) the entity has not, before the time by which the amended provision requires the report to be given, or within such further time allowed by the Commissioner, chosen to be required to prepare and give a report for the transaction.
(3)
For the purposes of paragraph (2)(c), giving a report for the transaction is sufficient evidence of the making of the choice.
(4)
Neither of the following is a legislative instrument:

(a) the determination mentioned in paragraph (1)(a);

(b) the revocation mentioned in paragraph (1)(b).
(5)
The Commissioner may, by legislative instrument under subsection 396-70(4) in Schedule 1 to the Taxation Administration Act 1953 , repeal or amend the determination mentioned in paragraph (1)(a) as if the Commissioner had made it by legislative instrument under subsection 396-70(4) .

Note:

See subsection 33(3) of the Acts Interpretation Act 1901 . The legislative instrument would provide that the determination is repealed or amended.

(6)
For a transaction that happens on or after 1 July 2019 but during an alternative reporting period that begins before 1 July 2019:

(a) the determination mentioned in paragraph (1)(a) does not apply; and

(b) the determination to which paragraph (1)(b) refers applies despite its revocation.
(7)
In this item:

alternative reporting period
means a period specified under subparagraph 396-55(a)(ii) in Schedule 1 to the Taxation Administration Act 1953 for item 12 of the table in section 396-55.

amended provision
means section 396-55 in Schedule 1 to the Taxation Administration Act 1953 , as amended by item 1 of this Schedule.

relevant GST turnover
, as at the end of a reporting period, means:

(a) if the entity has been making supplies for at least 12 months - the entity ' s current GST turnover as at the end of the reporting period; or

(b) otherwise - the entity ' s projected GST turnover, within the meaning of the A New Tax System (Goods and Services Tax) Act 1999 , as at the end of the reporting period.

Table item 12 formerly read:

12	an entity that makes a *supply of a courier 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, 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

S 396-55 amended by No 121 of 2018, s 3 and Sch 2 item 1, by inserting table items 11 and 12, effective 4 October 2018. No 121 of 2018, s 3 and Sch 2 items 2 and 3 contain the following application and transitional provisions:

Part 2 - Application and transitional provisions

2 Application  
(1)
An inserted item applies in relation to a transaction unless:

(a) the transaction happens before 1 July 2018; or

(b) the transaction happens during an alternative reporting period that begins before 1 July 2018.
(2)
In this item:

alternative reporting period
, in relation to an inserted item, means a period specified for the inserted item under subparagraph (a)(ii) of the amended provision.

amended provision
means section 396-55 in Schedule 1 to the Taxation Administration Act 1953 , as amended by item 1 of this Schedule.

inserted item
means either item 11 or 12 of the table in the amended provision.

3 General exemptions  
(1)
As from the commencement of this Schedule, the Commissioner is taken to have determined, under subsection 396-70(4) in Schedule 1 to the Taxation Administration Act 1953 , the matters in subitems (2) and (3). Exemption in relation to cleaning services
(2)
Where the amended provision requires an entity to prepare and give a report for a transaction that is described in item 11 of the table in that provision and that happens during a particular period (the reporting period ), the entity is not so required if:

(a) the total value of the consideration that:

(i) is received by the entity during the reporting period; and

(ii) relates to the supply by the entity, including by a contractor or subcontractor on behalf of the entity, of a cleaning service;

is less than 10% of the entity ' s relevant GST turnover as at the end of the reporting period; and

(b) the transaction is not described in another item of the table in the amended provision; and

(c) the entity has not, before the time by which the amended provision requires the report to be given, or within such further time allowed by the Commissioner, chosen to be required to prepare and give a report for the transaction. Exemption in relation to courier services
(3)
Where the amended provision requires an entity to prepare and give a report for a transaction that is described in item 12 of the table in that provision and that happens during a particular period (the reporting period ), the entity is not so required if:

(a) the total value of the consideration that:

(i) is received by the entity during the reporting period; and

(ii) relates to the supply by the entity, including by a contractor or subcontractor on behalf of the entity, of a courier service;

is less than 10% of the entity ' s relevant GST turnover as at the end of the reporting period; and

(b) the transaction is not described in another item of the table in the amended provision; and

(c) the entity has not, before the time by which the amended provision requires the report to be given, or within such further time allowed by the Commissioner, chosen to be required to prepare and give a report for the transaction. Determination not a legislative instrument
(4)
The determination under subitem (1) is not a legislative instrument. Repeal or amendment of determination
(5)
The Commissioner may, by legislative instrument under subsection 396-70(4) in Schedule 1 to the Taxation Administration Act 1953 , repeal or amend the determination as if the Commissioner had made it by legislative instrument under subsection 396-70(4) .

Note:

See subsection 33(3) of the Acts Interpretation Act 1901 . The legislative instrument would provide that the determination under subitem (1) is repealed or amended.

(6)
For paragraphs (2)(c) and (3)(c), giving a report for the transaction is sufficient evidence of the making of the choice. Definitions
(7)
In this item:

amended provision
means section 396-55 in Schedule 1 to the Taxation Administration Act 1953 , as amended by item 1 of this Schedule.

relevant GST turnover
, as at the end of a reporting period, means:

(a) if the entity has been making supplies for at least 12 months - the entity ' s current GST turnover as at the end of the reporting period; or

(b) otherwise - the entity ' s projected GST turnover, within the meaning of the A New Tax System (Goods and Services Tax) Act 1999 , as at the end of the reporting period.

S 396-55 amended by No 54 of 2016, s 3 and Sch 1 item 17, by inserting table item 10, applicable in relation to equity interests issued on or after 1 July 2016.

S 396-55 inserted by No 162 of 2015, s 3 and Sch 4 item 1, effective 30 November 2015. For application provision, see note under Subdiv 396-B heading.