Commonwealth legislation

Taxation Administration Act 1953 - PAYG Withholding Variation: Body Corporate (28/06/2000)

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 determination exempts members of a body corporate from the usual 47% PAYG withholding when paying that body corporate, even if it hasn’t provided an ABN. It prevents owners being forced to withhold large amounts from payments that fund building management.

It applies to payments such as body corporate levies, access fees and rent-collection charges, benefiting unit owners and bodies corporate by avoiding severe cash-flow disruption. Effective for payments made on or after 1 July 2000.

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Current sections

Direct links to the current provisions in Taxation Administration Act 1953 - PAYG Withholding Variation: Body Corporate (28/06/2000).

Taxation Administration Act 1953 - PAYG Withholding Variation: Body Corporate (28/06/2000)

Pay As You Go (PAYG) Withholding

Variation of amount required to be withheld

I, Michael Joseph Carmody, Commissioner of Taxation, vary to nil the amount required to be withheld from withholding payments that are:

covered by section 12-190 in Schedule 1 to the Taxation Administration Act 1953; and
within the class of cases described below.

I make this variation of the amount required to be withheld under the power contained in section 15-15 of Schedule 1 to the Taxation Administration Act 1953 to meet the special circumstances of that class of cases.

Effective for payments made on or after 1 July 2000

This variation applies to payments made on or after 1 July 2000.

Class of cases

Any payment to a body corporate of residential or commercial property made by a member of that body corporate in respect of

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

Signed at Canberra, this 28th day of June 2000.

Signed by Michael Carmody

Commissioner of Taxation

Source text

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

1 Taxation Administration Act 1953 - PAYG Withholding Variation: Body Corporate (28/06/2000)