Pay As You Go (PAYG) Withholding
Notice of exemption from requirement to give a copy of payment summary to the Commissioner within 14 days under section 16-165 (1) (b) and section 16-166 (b) of Schedule 1 to the Taxation Administration Act 1953
I, Megan Elizabeth Yong, A/g Assistant Commissioner of Taxation, pursuant to
section 16-180 of Schedule 1 to the Taxation Administration Act 1953 do hereby exempt entities from the requirement to give a copy of a payment summary to the Commissioner within 14 days under section 16-165 (1) (b) and section 16-166 (b) of Schedule 1 to the Taxation Administration Act 1953. This applies to withholding payments covered by Subdivision 12-C, section 12-85 (Eligible termination payments) and Subdivision 12-FA, section 12-305 (Departing Australia superannuation payments).
Payers are therefore not required to give a copy of the payment summary to the Commissioner within 14 days after they make an eligible termination payment or a departing Australia superannuation payment where they have withheld amounts from payments in accordance with Subdivision 12-C, section 12-85 or Subdivision 12-FA, section 12-305.
Effective for payment summaries given on or after the date of this notice
The exemption above applies to payment summaries given on or after the date of this notice.
Signed at Canberra, this 29th day of May 2002.
Megan Yong
A/g Assistant Commissioner of Taxation