Taxation Administration (PAYG Withholding Variation for Certain Insurance and Compensation Payments when an ABN is not Quoted) Legislative Instrument 2026
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Commonwealth Coat of Arms of Australia
Taxation Administration (PAYG Withholding Variation for Certain Insurance and Compensation Payments when an ABN is not Quoted) Legislative Instrument 2026
I, Will Day, Deputy Commissioner of Taxation, make the following legislative instrument.
Dated 25 February 2026
Will Day
Deputy Commissioner of Taxation
Contents
1 Name
2 Commencement
3 Authority
4 Definitions
5 Schedules
6 Withholding amount varied to nil
Schedule 1—Repeals
PAYG Withholding Variation: Insurance and Compensation
1 Name
This instrument is the Taxation Administration (PAYG Withholding Variation for Certain Insurance and Compensation Payments when an ABN is not Quoted) Legislative Instrument 2026.
2 Commencement
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
- Commencement information
- Column 1 Column 2 Column 3
- Provisions Commencement Date/Details
-
- The whole of this document The day after this instrument is registered.
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
3 Authority
This instrument is made under section 15-15 in Schedule 1 to the Act.
4 Definitions
In this instrument:
Act means the Taxation Administration Act 1953.
compulsory third party scheme has the meaning given by section 195-1 of the A New Tax System (Goods and Services Tax) Act 1999.
statutory compensation scheme has the meaning given by section 195-1 of the A New Tax System (Goods and Services Tax) Act 1999.
5 Schedules
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
6 Withholding amount varied to nil
The amount that an entity must withhold under subsection 12-190(1) in Schedule 1 to the Act from a payment it makes to another entity is varied to nil where the payment is made by:
(a) an insurer in settlement of a claim under an insurance policy; or
(b) an entity operating a statutory compensation scheme in settlement of a claim for compensation under that scheme; or
(c) an entity operating a compulsory third party scheme in settlement of a claim for compensation under that scheme.
Schedule 1—Repeals
PAYG Withholding Variation: Insurance and Compensation
1 The whole of the instrument
Repeal the instrument