Commonwealth legislation

Taxation Administration Act 1953 - PAYG Withholding Variation: Office Holders (19/12/2000)

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 notice removes PAYG withholding and the payment-summary requirement for company directors and office-holders who merely act as conduits—i.e., receive director fees but are obliged to immediately remit them to another entity (for example, their partnership or employer company). It affects individual directors/office-holders in that position and matters because payers no longer withhold tax on those payments. 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: Office Holders (19/12/2000).

Taxation Administration Act 1953 - PAYG Withholding Variation: Office Holders (19/12/2000)

Australian Taxation Office

Taxation Administration Act 1953

Notice of Variation of Rate of Withholding

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

covered by section 12-40 or section 12-45 of Schedule 1 of the Taxation Administration Act 1953; and
within the class of cases described below.

I have made this variation of the rate of withholding under the power contained in section 15-15, Schedule 1 of the Taxation Administration Act 1953 to meet the special circumstances of that class of cases.

I have exempted entities from the requirement to issue payment summaries under section 16-155 and 16-160 for payments that are:

covered by section 12-40 or section 12-45 of Schedule 1 of the Taxation Administration Act 1953; and
within the class of cases described below.

I have made this exemption from giving payment summaries under the power contained in section 16-180 of Schedule 1 of the Taxation Administration Act 1953 to meet the special circumstances of that class of cases.

Effective for payments made after 1 July 2000

This variation is effective for payments made on or after 1 July 2000.

Class of cases

A payment to an individual (a partner in a partnership or a director or employee of another entity) appointed as a director, member of a committee of management of a company, or an office holder, who is required to remit those payments to another entity (the partnership or the other entity).

Signed at Canberra, this 19th day of December 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: Office Holders (19/12/2000)