OPS 2017/4

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AUSTRALIAN GOVERNMENT

This legislative instrument expired on 30 June 2020

This legislative instrument repeals F2016L00530

Taxation Administration Act 1953

I, Greg Williams, Deputy Commissioner of Taxation, make this determination under subsection 396-70(4) of Schedule 1 to the Taxation Administration Act 1953.

Legislative Instrument

1. Name of instrument

This instrument is the Classes of Electronic Payment System Transactions Exempt In Certain Years From Being Reported In Third Party Reports Determination 2017.

2. Commencement and Expiry

This instrument commences on 1 July 2017 and expires on 30 June 2020.

3.

This instrument replaces Legislative instrument No. F2016L00530 Classes of Electronic Payment System Transactions Exempt In The 2017/18 Year From Providing Third Party Reports Determination 2016 registered on 15 April 2016. The previous instrument is repealed on the commencement of this instrument.

4. Application

This instrument applies to administrators of a payment system, within the meaning of the Payment Systems (Regulation) Act 1998.

5. Determination

Administrators of a payment system, within the meaning of the Payment Systems (Regulation) Act 1998, are not required to provide information to the Commissioner of Taxation under table item 9 in section 396-55 of Schedule 1 to the Taxation Administration Act 1953 in relation to the following transactions:

(a)

Payments processed by Bulk Electronic Clearing System Framework Participants under the Bulk Electronic Clearing System governed by Australian Payments Clearing Association Limited.

(b)

Direct Entry Direct Credit payments processed before 1 July 2020, through the Bulk Electronic Clearing System governed by Australian Payments Clearing Association Limited;

(c)

Payments processed before 1 July 2020 by New Payments Platform Participants using the New Payments Platform governed by NPP Australia Limited.

6. Additional Information

Entities may provide information to which paragraph 5(a) applies where not reporting it would impose an increased administrative burden on the reporting entity.

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Dated: 16 May 2017

Greg Williams
Deputy Commissioner of Taxation

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Registration Number: F2017L00631

Registration Date: 31 May 2017

Related Explanatory Statements:

OPS 2017/4 - Explanatory statement

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