Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-30 - PAYMENT, ABN AND IDENTIFICATION VERIFICATION SYSTEM  

Division 410 - Transaction reporting by suppliers  

SECTION 410-10   REPORTING REQUIREMENTS  

410-10(1)  
Any entity (the supplier ) that receives, or is entitled to receive, a *Division 410 payment during a *quarter must give a *Division 410 report to the Commissioner within 21 days after the end of the quarter.

410-10(2)  
A Division 410 report is a written statement in the *approved form that names the supplier and, for each purchaser in relation to whom the supplier received, or was entitled to receive, a *Division 410 payment during the *quarter:


(a) names the purchaser; and


(b) specifies the purchaser ' s *ABN (if known by the supplier); and


(c) specifies the total of the Division 410 payments that the supplier received, or was entitled to receive, from the purchaser during the quarter that:


(i) were notified in an invoice during the quarter (unless the payment was reported in an earlier Division 410 report); or

(ii) were received during the quarter but for which no invoice had been provided before the end of the quarter.

The report must also include any other information that the Commissioner requires.

410-10(3)  
The Commissioner may, in writing, require particular information to be included in a *Division 410 report or a class of Division 410 reports.

410-10(4)  
The Commissioner may, by written notice, vary any requirements under subsection (1), (2) or (3) in relation to a supplier or class of supplier. The Commissioner may do so in such instances and to such extent as the Commissioner thinks fit.


 

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