Reference: Notice 3
Document type: Notice of exemption from requirement to give a payment summary for passbook accounts
Enabling act: Pay As You Go (PAYG) Withholding
Date of issue: 26 July 2001
Signatory: Murray Crowe Assistant Commissioner of Taxation


I, Murray Boyd Crowe, Assistant Commissioner of Taxation, pursuant to section 16-180 of Schedule 1 to the Taxation Administration Act 1953 do hereby exempt entities from the requirement to issue a payment summary under section 16-155 of Schedule 1 to the Taxation Administration Act 1953, in respect of a Division 12-E (Payments where TFN or ABN not quoted) or 12-F (Dividend, interest and royalty payments) withholding amount made on a passbook savings account, unless specifically requested by the recipient/payee. | Payers are therefore not required to provide passbook savings account holders with a payment summary where they have withheld amounts from payments in accordance with Division 12-E and 12-F , unless specifically requested to do so. | Effective for payment summaries required to be issued for the years ending 30 June 2001 and 30 June 2002 | This exemption applies to payment summaries required to be issued for the 2000/01 and 2001/02 financial years.