Commonwealth legislation

PAYG Withholding Variation: Certain superannuation beneficiaries who have not quoted a tax file number

In ForceCTH

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

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This instrument (made under s.15‑15 of Sch 1 to the Taxation Administration Act 1953) sets the PAYG withholding rate to nil for the portion of superannuation payments that is non‑assessable non‑exempt (NANE) income where the beneficiary has not provided a TFN declaration. It applies to payments covered by s.12‑80 or s.12‑85(a). Mechanically, payers withhold nothing on NANE portions (reducing immediate tax withheld) while beneficiaries remain incentivised to supply TFNs and payers must identify NANE portions correctly.

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PAYG Withholding Variation: Certain superannuation beneficiaries who have not quoted a tax file number

Legislative Instrument

PAYG Withholding Variation: Certain superannuation beneficiaries who have not quoted a tax file number

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

Deputy Commissioner of Taxation

Dated: 7 September 2017

Name of instrument

This instrument is the PAYG Withholding Variation: Certain superannuation beneficiaries who have not quoted a tax file number.

2. Commencement
This instrument commences on the day after its registration on the Federal Register of Legislation.

3. Repealing of existing instrument
This legislative instrument repeals and replaces legislative instrument Variation to the rate of withholding for certain superannuation beneficiaries who have not quoted a tax file number (F2007L02031), registered on 28 June 2007.

4. Application

This instrument applies to payments covered by section 12-80 or subsection 12-85(a) of Schedule 1 to the Taxation Administration Act 1953, where the payee has not provided the payer with a tax file number declaration that has effect under Division 3 of Part VA of the Income Tax Assessment Act 1936.

5. Amount to be withheld
The amount to withhold is varied to nil for that portion of the payment which is non-assessable non-exempt income of the payee.

Source text

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

1 PAYG Withholding Variation: Certain superannuation beneficiaries who have not quoted a tax file number

Legislative Instrument

PAYG Withholding Variation: Certain superannuation beneficiaries who have not quoted a tax file number

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

Deputy Commissioner of Taxation

Dated: 7 September 2017

Name of instrument

This instrument is the PAYG Withholding Variation: Certain superannuation beneficiaries who have not quoted a tax file number.

2. Commencement
This instrument commences on the day after its registration on the Federal Register of Legislation.

3. Repealing of existing instrument
This legislative instrument repeals and replaces legislative instrument Variation to the rate of withholding for certain superannuation beneficiaries who have not quoted a tax file number (F2007L02031), registered on 28 June 2007.

4. Application

5. Amount to be withheld
The amount to withhold is varied to nil for that portion of the payment which is non-assessable non-exempt income of the payee.