Taxation Administration Act 1953
16‑157 Payment summary for Subdivision 116‑157 Payment summary for Subdivision 12‑H
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16‑157 Payment summary for Subdivision 12‑H
(1) An entity (the payer) must give a *payment summary to another entity (the recipient) if the payer made *withholding payments covered by section 12‑385 or 12‑390 to the recipient in relation to *fund payments made by a particular *withholding MIT (the paying trust) in relation to an income year of that trust.
Note: The entity may be the withholding MIT itself or a custodian or other entity.
(2) The *payment summary: (a) must cover each of the *withholding payments mentioned in subsection (1); and (b) may be in electronic form; and (c) must be given: (i) not later than 14 days after the end of 6 months after the end of the income year of the *withholding MIT in relation to which the relevant *fund payments were made; or (ii) within a longer period allowed by the Commissioner.