STP 2021/2
This legislative instrument is repealed by Taxation Administration - Single Touch Payroll - Spent Instruments Repeal Determination 2022 (F2022L01171)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.
7 July 2021
Louise Clarke
Deputy Commissioner of Taxation
Policy, Analysis and Legislation
Law Design and Practice
Registration Number: F2021L01037
Registration Date: 28 July 2021
Related Explanatory Statements:
STP 2021/2 - Explanatory statement