{"id":"F2012L02333","name":"Notice of exemption from providing payment summaries to passbook account holders (30/11/2012)","slug":"notice-of-exemption-from-providing-payment-summaries-to-passbook-account-holders-30-11-2012","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":90312,"registerId":"commonwealth-F2012L02333-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Notice of exemption from providing payme","sectionType":"part","heading":"Notice of exemption from providing payment summaries to passbook account holders","content":"# Notice of exemption from providing payment summaries to passbook account holders\n\nI, Erin Kathleen Holland, Deputy 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 issue a payment summary under section 16-155 of Schedule 1 to the Taxation Administration Act 1953, in respect of Subdivision 12-E (Payments where TFN or ABN not quoted) or 12-F (Dividend, interest and royalty payments) withholding amount made on a passbook savings account, unless specifically requested by the recipient/payee.\n\nPayers are therefore not required to provide passbook savings account holders with a payment summary where they have withheld amounts from payments in accordance with Subdivision 12-E or 12-F, unless specifically requested to do so.\n\nCommencement\n\nThis instrument commences on the day after registration on the Federal Register of Legislative Instruments.\n\nSigned on 30 November 2012\n\nErin Holland\n\nDeputy Commissioner of Taxation","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1680},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument remains a targeted administrative exemption for passbook account holders and has not expanded beyond its original purpose of reducing paperwork for specific withholding tax scenarios."},"complexity_factors":["References to specific sections of the Taxation Administration Act 1953 (sections 16-180 and 16-155)","Technical terminology including 'Subdivision 12-E' and 'Subdivision 12-F' (tax withholding rules)","Conditional exemption logic (unless specifically requested)"],"plain_english_summary":"This instrument exempts banks and financial institutions from automatically issuing payment summaries for withholding tax on passbook savings accounts. It affects banks (relieving routine paperwork) and passbook account holders (who won’t receive summaries unless they ask). The exemption applies only when the holder does not request the document, so summaries remain available on demand for tax return purposes."}},"importantCases":[],"_links":{"self":"/api/acts/notice-of-exemption-from-providing-payment-summaries-to-passbook-account-holders-30-11-2012","history":"/api/acts/notice-of-exemption-from-providing-payment-summaries-to-passbook-account-holders-30-11-2012/history","analysis":"/api/acts/notice-of-exemption-from-providing-payment-summaries-to-passbook-account-holders-30-11-2012/analysis","conflicts":"/api/acts/notice-of-exemption-from-providing-payment-summaries-to-passbook-account-holders-30-11-2012/conflicts","importantCases":"/api/acts/notice-of-exemption-from-providing-payment-summaries-to-passbook-account-holders-30-11-2012/important-cases","documents":"/api/acts/notice-of-exemption-from-providing-payment-summaries-to-passbook-account-holders-30-11-2012/documents"}}