STP 2021/2

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This legislative instrument is repealed by Taxation Administration - Single Touch Payroll - Spent Instruments Repeal Determination 2022 (F2022L01171)

Taxation Administration Act 1953

I, Louise Clarke, Deputy Commissioner of Taxation, make this determination under subsection 389-10(1) of Schedule 1 to the Taxation Administration Act 1953.

Legislative Instrument

1. Name of instrument

This determination is the Taxation Administration - Single Touch Payroll - 2019-20 and 2020-21 Income Years Closely Held Payees Exemption 2021 instrument.

2. Commencement

This instrument is taken to have commenced on 1 July 2019.

3. Application

This instrument applies for the 2019-20 and 2020-21 income years to an entity which:

(a)

was not at any time before 1 April 2019 a substantial employer within the meaning of former subsection 389-5(6) of Schedule 1 to the Taxation Administration Act 1953 (TAA 1953);

(b)

pays an amount described in the table in subsection 389-5(1) of Schedule 1 to the TAA 1953 to a closely held payee;

(c)

is registered for the purposes of Subdivision 16-BA of Schedule 1 to the TAA 1953; and

(d)

is not a large withholder as defined in section 16-95 of Schedule 1 to the TAA 1953.

4. Determination

An entity to which this instrument applies is not required to report information to the Commissioner of Taxation under Division 389 of Schedule 1 to the TAA 1953 in respect of an amount paid to a closely held payee.

5. Definition

For the purposes of this instrument, a closely held payee is an employee of the entity who is also an associate of the entity under section 318 of the Income Tax Assessment Act 1936.

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7 July 2021

Louise Clarke
Deputy Commissioner of Taxation
Policy, Analysis and Legislation
Law Design and Practice

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Registration Number: F2021L01037

Registration Date: 28 July 2021

Related Explanatory Statements:

STP 2021/2 - Explanatory statement

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