Variation of withholding for low income minors where no TFN or ABN provided

I, Erin Kathleen Holland, Deputy Commissioner of Taxation, vary to nil the amount required to be withheld from withholding payments that are:

1. Covered by Subdivision 12-B (except section 12-55), 12C or 12D in Schedule 1 to the Taxation Administration Act 1953 and the payee:

• is an individual who is under 18 years of age at the time of payment, and
• has not provided the payer with a TFN declaration that is in effect, and
• is to receive an amount which does not exceed:

- $350 where the payer pays the payee weekly or

- $700 where the payer pays the payee fortnightly or

- $1,517 where the payer pays the payee monthly.

Or

2. Covered by section 12-190 of Schedule 1 to the Taxation Administration Act 1953 (TAA 1953); and the supplier:

• is an individual who is under 18 years of age at the time of payment, and
• does not quote an Australian Business Number (ABN) to the payer and
• the amount does not exceed $350 per week for the period.

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.

This instrument also revokes PAYG withholding variation – Under 18 years of age and no Tax File Number declared (Instrument No: F2006B00403) registered on 21st February 2006 and PAYG withholding variation – Under 18 years of age and no ABN (Instrument No: F2006B00230) registered on 6th February 2006.

Commencement

This variation applies to payments made on or after 1st July 2012.

Signed on 13 April 2012

Erin Holland

Deputy Commissioner of Taxation