Taxation Administration – Payment Summary Deferral: Employment Termination and Departing Australia Superannuation Payments Deferral 2022 (Cth)

Legislative Instrument

Taxation Administration – Payment Summary Deferral: Employment Termination and Departing Australia Superannuation Payments Deferral 2022

I, Ben Kelly, Deputy Commissioner of Taxation, make this determination under section 388-55 of Schedule 1 to the Taxation Administration Act 1953 (TAA).

Ben Kelly

Deputy Commissioner of Taxation

Policy, Analysis and Legislation

Law Design and Practice

9 March 2022

1. Name of instrument

This Determination is the Taxation Administration – Payment Summary Deferral: Employment Termination and Departing Australia Superannuation Payments Deferral 2022.

1. Commencement

This Instrument commences on 1 April 2022.

1. Application

This Instrument applies to entities that have obligations to provide copies of payment summaries in respect of:

(a)employment termination payments under paragraph 16-165(1)(b) of Schedule 1 to the TAA, and

(b)departing Australia superannuation payments made under paragraph 16-166(b) of Schedule 1 to the TAA.

1. Determination

The due date to give a copy of a payment summary to the Commissioner under paragraph 16-165(1)(b) and paragraph 16-166(b) of Schedule 1 to the TAA is varied to 14 August following the financial year in which the payment was made.

1. Definitions

Employment termination payment has the meaning given by section 82-130 of the Income Tax Assessment Act 1997.

Departing Australia superannuation payment has the meaning given by section 301-170 of the Income Tax Assessment Act 1997.

All other terms take their meaning from the TAA (see subsection 3AA(2) of this Act).

1. Repeals

Each instrument that is specified in Schedule 1 to this instrument is repealed as set out in the applicable items in that Schedule 1.

Schedule 1

Taxation Administration Act 1953 – Pay As You Go (PAYG) Withholding – Payment summary deferral – Employment termination and departing Australia superannuation payments (F2012L00584), registered on 2 March 2012.

1.         The whole of the instrument.