Taxation Administration Act 1953
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Hide history noteNote: See section 3AA .
Chapter 2 - Collection, recovery and administration of income taxSECTION 16-157 PAYMENT SUMMARY FOR SUBDIVISION 12-H 16-157(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.
16-157(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.
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