Taxation Administration: Withholding Variation to Nil for Low Income Minors Legislative Instrument 2022
4. Determination4. Determination
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4. Determination
The amount required to be withheld from the following withholding payments is varied to nil:
(1) Payments covered by Subdivisions 12-B (except section 12-55), 12-C or 12-D in Schedule 1 to the Act, where the payee:
(a) is an individual under 18 years of age at the time of payment,
(b) has not provided the payer with a tax file number (TFN) declaration that is in effect, and
(c) is to receive an amount which does not exceed:
(i) $350 where the payer pays the payee on a weekly basis,
(ii) $700 where the payer pays the payee on a fortnightly basis, or
(iii) $1,517 where the payer pays the payee monthly.
(2) Payments covered by section 12-190 in Subdivision 12-E of Schedule 1 to the Act, where:
(a) the supplier is an individual under 18 years of age at the time of payment,
(b) the supplier does not quote an Australian business number (ABN) to the payer, and
(c) the amount paid to the supplier does not exceed $350 per week.