Variation 40

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Australian Government

This legislative Instrument repeals the following legislative instruments:

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Legislative Instrument No.F2006B00295 registered on 10 February 2006.

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Legislative Instrument No.F2006B00404 registered on 21 February 2006.

Taxation Administration Act 1953

PAYG Withholding Variation

I, Steve Vesperman, Deputy Commissioner of Taxation, make this determination under:

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section 15-15 of Schedule 1 to the Taxation Administration Act 1953, and

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section 16-180 of Schedule 1 to the Taxation Administration Act 1953.

1. Name of instrument

This determination is the PAYG Withholding Variation: Company Directors and Office Holders.

2. Commencement

This instrument commences on 1 April 2016.

3. Repealing of existing instrument

This legislative instrument repeals the following legislative instruments:

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PAYG Withholding Variation: Office Holders - F2006B00295, registered on 10 February 2006.

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PAYG Withholding Variation: Partnerships - F2006B00404, registered on 21 February 2006.

4. Application

This instrument applies to payments by an entity that are covered by section 12-40 or section 12-45 of Schedule 1 to the Taxation Administration Act 1953 which are made to an individual who is a partner in a partnership, or a director or employee of another entity appointed as:

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a director

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a member of a committee of management of a company, or

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an office holder

who is required to pay those payments to the entity of which they are a partner, director or employee.

5. Amount to be withheld

The amount to be withheld from payments covered by this instrument has been varied to nil.

6. Payment summaries

An entity is exempted from the requirement to issue payment summaries under section 16-155 and 16-160 for payments that are covered by this instrument.

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Signed on 24 February 2016

Steve Vesperman
Deputy Commissioner of Taxation

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Registration Number: F2016L00222

Registration Date: 2 March 2016

Variation 40 - Explanatory statement

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