Federal Register of Legislation - Australian Government

Primary content

Exemptions as made
This instrument provides an exemption for the 2019-20 and 2020-21 financial years from mandatory reporting through Single Touch Payroll to employers that make payments to closely held payees.
Administered by: Treasury
Registered 28 Jul 2021
Tabling HistoryDate
Tabled HR03-Aug-2021
Tabled Senate03-Aug-2021

Legislative Instrument

 

Taxation Administration – Single Touch Payroll – 2019‑20 and 2020‑21 Income Years Closely Held Payees Exemption 2021

 

I, Louise Clarke, Deputy Commissioner of Taxation, make this instrument under subsection 389-10(1) of Schedule 1 to the Taxation Administration Act 1953.

 

 

Louise Clarke

Deputy Commissioner of Taxation

Policy, Analysis and Legislation

Law Design and Practice

7 July 2021

 

 

1.            Name of instrument

This is the Taxation Administration – Single Touch Payroll – 2019‑20 and 2020‑21 Income Years Closely Held Payees Exemption 2021 instrument.

 

2.            Commencement

This instrument is taken to have commenced on 1 July 2019.

 

3.            Application

This instrument applies for the 2019-20 and 2020-21 income years to an entity which:

(a)          was not at any time before 1 April 2019 a substantial employer within the meaning of former subsection 389-5(6) of Schedule 1 to the Taxation Administration Act 1953 (TAA 1953);

(b)          pays an amount described in the table in subsection 389-5(1) of Schedule 1 to the TAA 1953 to a closely held payee;

(c)          is registered for the purposes of Subdivision 16-BA of Schedule 1 to the TAA 1953; and

(d)          is not a large withholder as defined in section 16-95 of Schedule 1 to the TAA 1953.

 

4.            Determination

An entity to which this instrument applies is not required to report information to the Commissioner of Taxation under Division 389 of Schedule 1 to the TAA 1953 in respect of an amount paid to a closely held payee.

 

5.            Definition

For the purposes of this instrument, a closely held payee is an employee of the entity who is also an associate of the entity under section 318 of the Income Tax Assessment Act 1936.