PAYG Withholding Variation: Insurance and Compensation
Reference: Variation 42
Document type: PAYG Withholding Variation
Enabling act: Taxation Administration Act 1953
Date of issue: 23 March 2016
Signatory: Steve Vesperman Deputy Commissioner of Taxation
Registration number: F2016L00433
Registration date: 28 March 2016
This legislative Instrument repeals the following legislative instrument: | This legislative instrument repeals legislative instrument: • PAYG Withholding Variation: Insurance and Compensation - F2006B00211, registered on 23 January 2006

• Legislative Instrument No. F2006B00211 registered on 23 January 2006. | • section 15-15 of Schedule 1 to the Taxation Administration Act 1953, and • section 16-180 of Schedule 1 to the Taxation Administration Act 1953.

1. Name of instrument: This determination is the PAYG Withholding Variation: Insurance and Compensation. | 2. Commencement: This instrument commences on 1 April 2016. | 3. Repealing of existing instrument: This legislative instrument repeals legislative instrument: • PAYG Withholding Variation: Insurance and Compensation - F2006B00211, registered on 23 January 2006 • PAYG Withholding Variation: Insurance and Compensation - F2006B00211, registered on 23 January 2006 | 4. Application: This instrument applies to payments covered by Section 12-190 in Schedule 1 to the Taxation Administration Act 1953 and within the class of cases described below: : • an insurer to another entity in settlement of a claim under an insurance policy, or • an entity operating a statutory compensation scheme to another entity in settlement of a claim for compensation under that scheme, or • an entity operating a compulsory third party scheme to another entity in settlement of a claim for compensation under that scheme. • an insurer to another entity in settlement of a claim under an insurance policy, or • an entity operating a statutory compensation scheme to another entity in settlement of a claim for compensation under that scheme, or • an entity operating a compulsory third party scheme to another entity in settlement of a claim for compensation under that scheme. | 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 under section 16-180 of Schedule 1 to the Taxation Administration Act 1953 from the requirement to issue payment summaries under section 16-167 of Schedule 1 for payments that are covered by this instrument.