Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-30 - PAYMENT, ABN AND IDENTIFICATION VERIFICATION SYSTEM  

Division 417 - Verification of suppliers ' identities by purchasers  

SECTION 417-20   VERIFICATION APPLIES TO LATER PAYMENTS  

417-20(1)    
Verification of a supplier ' s identity applies to all later *Division 417 payments by the purchaser to the supplier unless there is a period of 2 years during which no *Division 417 payment is made by the purchaser to the supplier. If this occurs, the verification continues to apply to any purchases before 1 July first occurring after the end of the 2 year period.

417-20(2)    
However, verification of a supplier ' s identity does not apply to a later *Division 417 payment if the purchaser has reasonable grounds to believe that the verified identity is not the supplier ' s true identity.