Commonwealth legislation

PAYG Withholding Variation: Body corporates

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

This instrument makes a targeted change to PAYG withholding: property owners paying their body corporate no longer have to deduct tax when the body corporate doesn’t provide an ABN. Withholding is reduced to nil for body corporate levies, access fees (to inspect records) and rent collection fees. It therefore relieves owners of the section 12-190 TAA withholding obligation for those specific payments.

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PAYG Withholding Variation: Body corporates

Legislative Instrument

PAYG Withholding Variation: Body corporates

I, Steve Vesperman, Deputy Commissioner of Taxation, make this variation under section 15-15 of Schedule 1 to the Taxation Administration Act 1953.

Steve Vesperman

Deputy Commissioner of Taxation

Dated: 29 March 2016

Name of instrument

This instrument is the PAYG Withholding Variation: Body corporates.

2. Effective dates

This instrument commences on 1 April 2016 and will be withdrawn on 31 October 2016.

3. Repealing of existing instrument

This legislative instrument repeals and replaces legislative instrument PAYG Withholding Variation: Body corporate (F2006B00402), registered on 21 February 2006.

4. Application

This instrument applies to any payment covered by section 12-190 in Schedule 1 to the Taxation Administration Act 1953 to a body corporate of residential or commercial property made by a member of that body corporate in respect of:

(i) body corporate levies;
(ii) access fees to inspect books of account, insurance policies, rolls, minutes etc; or
(iii) fees payable to the body corporate for the collection of rents from the common property.

5. Amount to be withheld

The amount to be withheld from payments covered by this instrument is varied to nil.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 PAYG Withholding Variation: Body corporates

Legislative Instrument

PAYG Withholding Variation: Body corporates

I, Steve Vesperman, Deputy Commissioner of Taxation, make this variation under section 15-15 of Schedule 1 to the Taxation Administration Act 1953.

Steve Vesperman

Deputy Commissioner of Taxation

Dated: 29 March 2016

Name of instrument

This instrument is the PAYG Withholding Variation: Body corporates.

2. Effective dates

This instrument commences on 1 April 2016 and will be withdrawn on 31 October 2016.

3. Repealing of existing instrument

This legislative instrument repeals and replaces legislative instrument PAYG Withholding Variation: Body corporate (F2006B00402), registered on 21 February 2006.

4. Application

(i) body corporate levies;
(ii) access fees to inspect books of account, insurance policies, rolls, minutes etc; or
(iii) fees payable to the body corporate for the collection of rents from the common property.

5. Amount to be withheld

The amount to be withheld from payments covered by this instrument is varied to nil.