Taxation Administration Act 1953

s 359-60 — Objections, reviews and appeals relating to private rulings

(1) You may object against a * private ruling that applies to you in the manner set out in Part IVC if you are dissatisfied with it. (2) The ruling is taken to be a taxation decision (within the meaning of that Part). (3) However, you cannot object against a * private ruling if: (a) there is an assessment for you for the income year or other accounting period to which the ruling relates; or (b) the ruling relates to * withholding tax or * mining withholding tax that has become due and payable; or (c) all of the following subparagraphs apply: (i) the ruling relates to * excise duty, or another amount, payable in relation to the goods under an * excise law; (ii) the Commissioner has made a decision about the excise duty, or other amount, payable in relation to those goods; (iii) the decision is reviewable under an excise law.

Amendment history: Inserted by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent | Amended by No 74 of 2010, effective sch 1 (items 41, 42, 45, 56 ‑ 63): Royal Assent sch 2 (items 13 ‑ 46): 1 July 2010

s 359-65 — Commissioner may consider new information on objection

(1) In deciding whether to allow (wholly or in part), or to disallow, an objection under Part IVC against a * private ruling, the Commissioner may consider any additional information that the Commissioner did not consider when making the ruling. (2) For information you do not have, the Commissioner must tell you what the information is and give you a reasonable opportunity to respond before allowing or disallowing the objection. (3) However, if the Commissioner considers that the additional information is such that the * scheme to which the application related is materially different from the scheme to which the ruling relates: (a) the Commissioner must request the applicant to make an application for another * private ruling; and (b) the objection is taken not to have been made.

Amendment history: Inserted by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent

s 359-70 — Successful objection decision alters ruling

A * private ruling has effect as altered by an objection decision (within the meaning of Part IVC) made by the Commissioner if: (a) the Commissioner made the decision allowing, wholly or in part, a taxation objection (within the meaning of that Part) against the ruling; and (b) the period in which an appeal against, or an application for the review of, the decision may be made has ended without such an appeal or application being made. Note: See sections 14ZZC and 14ZZN for the time limits.

Amendment history: Inserted by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent

s 360-1 — What this Division is about

An oral ruling is an expression of the Commissioner’s opinion of the way in which a relevant provision applies, or would apply, to you. Oral rulings are given on oral application by you or your legal personal representative. Oral rulings can only be given for individuals. The Commissioner must give the ruling unless he or she considers that the advice you are seeking relates to a business matter or a complex matter. The Commissioner must give the ruling orally and must give you a registration identifier for the ruling. Note: Division 357 has some common rules that affect oral rulings. Table of sections Oral rulings 360 ‑ 5 Applying for and making of oral rulings 360 ‑ 10 Withdrawing an application for an oral ruling 360 ‑ 15 Commissioner determinations

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Repealed and substituted by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent

s 360-5 — Applying for and making of oral rulings

Applying for oral rulings (1) If you are an individual, you or your * legal personal representative may apply to the Commissioner for advice on the way in which the Commissioner considers a relevant provision applies or would apply to you in relation to a specified * scheme. Note: Section 357 ‑ 55 specifies the relevant provisions. (2) An application under this section must be made orally and in the manner determined under section 360 ‑ 15. (2A) You or your * legal personal representative must not apply for advice under this section in relation to: (a) an * indirect tax law (other than the * fuel tax law); or (b) an * excise law. Making of oral rulings (3) The Commissioner must give you or your * legal personal representative that advice unless: (a) the Commissioner considers that the advice sought relates to a * business matter or a complex matter; or (b) the matter sought to be ruled on is already being, or has been, considered by the Commissioner for you. That advice is an oral ruling . Note: The Commissioner may also decline to make an oral ruling if: (a) the Commissioner has requested you to give further information under section 357 ‑ 105 and you have not given it to the Commissioner; or (b) the Commissioner considers that the correctness of an oral ruling would depend on which assumptions were made about a future event or other matter (see section 357 ‑ 110). (4) The Commissioner must give that advice orally and in the manner determined under section 360 ‑ 15. That advice must include a registration identifier for the ruling. Note: The Commissioner must tell you which assumptions the Commissioner made in making the ruling: see section 357 ‑ 110. (5) You are not entitled to receive a written record of that advice. Note: However, you may be able to apply for a private ruling on the matter under Division 359.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Repealed and substituted by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent | Amended by No 74 of 2010, effective sch 1 (items 41, 42, 45, 56 ‑ 63): Royal Assent sch 2 (items 13 ‑ 46): 1 July 2010 | Amended by No 14 of 2012, effective sch 1, sch 2 (items 1 ‑ 9): 1 July 2012 (s 2(1) items 2, 3) sch 2 (items 17 ‑ 28): never commenced (s 2(1) item 4) | Amended by No 96 of 2014, effective sch 1 (items 54 ‑ 108, 122 ‑ 124), sch 2 (items 41 ‑ 43): 30 Sept 2014 (s 2(1) item 2, F2014L01256)

s 360-10 — Withdrawing an application for an oral ruling

(1) You or your * legal personal representative may withdraw an application under section 360 ‑ 5 before the Commissioner makes the * oral ruling. (2) The withdrawal must be done orally and in the manner determined under section 360 ‑ 15.

Amendment history: Inserted by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent

s 360-15 — Commissioner determinations

The Commissioner must, by writing, determine: (a) the manner in which oral applications are to be made under section 360 ‑ 5 or are to be withdrawn; and (b) the manner in which the Commissioner is to give oral advice under that section.

Amendment history: Inserted by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent

s 361-5 — Non ‑ ruling advice and general administrative practice

(1) You are not liable to pay the * general interest charge or the * shortfall interest charge under a relevant provision to the extent that the charge would relate to a * shortfall amount or a * scheme shortfall amount that was caused by: (a) you reasonably relying in good faith on: (i) advice (other than a ruling) given to you or your * agent by the Commissioner; or (ii) a statement in a publication approved in writing by the Commissioner; unless the advice, or the statement or publication, is labelled as non ‑ binding; or (b) you reasonably relying in good faith on the Commissioner’s general administrative practice. Note: Section 357 ‑ 55 specifies the relevant provisions. (2) However, subsection (1) does not apply to any * general interest charge accruing more than 21 days after the Commissioner notifies you of the correct position.

Amendment history: Inserted by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent | Amended by No 56 of 2010, effective s 4(2), sch 3 (items 9, 10(1), (5)), sch 5 (items 191 ‑ 193), sch 6 (items 12 ‑ 14, 27 ‑ 36, 44 ‑ 53, 110, 111, 116, 159, 160): 3 June 2010 (s 2(1) items 1, 7, 11, 15, 20, 23) sch 1 (item 8): 17 Dec 2010 (s 2(1) item 4) sch 2 (items 3, 4), sch 6 (items 58 ‑ 97, 101 ‑ 105): 4 June 2010 (s 2(1) items 6, 16, 17)

s 362-1 — What this Division is about

Industry Innovation and Science Australia may make public rulings and private rulings expressing its view on whether activities are not ineligible activities for the purposes of applying capital gains tax provisions to venture capital investments. Note: An entity’s involvement in ineligible activities can affect whether an investment is an eligible venture capital investment for the purpose of accessing a capital gains tax exemption under Subdivision 118 ‑ F of the Income Tax Assessment Act 1997 . Table of sections Public rulings by Industry Innovation and Science Australia 362 ‑ 5 Industry Innovation and Science Australia may make public rulings on a specified class of activities 362 ‑ 10 Application of public rulings 362 ‑ 15 When a public ruling ceases to apply 362 ‑ 20 Withdrawing public rulings Private rulings by Industry Innovation and Science Australia 362 ‑ 25 Industry Innovation and Science Australia may make private rulings on a specified activity 362 ‑ 30 Applying for a private ruling 362 ‑ 35 Industry Innovation and Science Australia must give notice of its decision 362 ‑ 40 Private rulings must contain certain details 362 ‑ 45 Application of private rulings 362 ‑ 50 Delays in making private rulings 362 ‑ 55 When a private ruling ceases to apply 362 ‑ 60 Withdrawing private rulings General provisions 362 ‑ 65 When rulings are binding on the Commissioner and Industry Innovation and Science Australia 362 ‑ 70 Application of common rules under Subdivision 357 ‑ B 362 ‑ 75 Application of Divisions 358 and 359

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-5 — Industry Innovation and Science Australia may make public rulings on a specified class of activities

(1) * Industry Innovation and Science Australia may make a ruling that Industry Innovation and Science Australia considers that activities included in a specified class of activities: (a) are not ineligible activities for the purposes of subsections 118 ‑ 425(13) and 118 ‑ 427(14) of the Income Tax Assessment Act 1997 ; or (b) in specified circumstances, are not such ineligible activities; if Industry Innovation and Science Australia is satisfied that the activities included in that class are not such ineligible activities, or are not in those circumstances such ineligible activities, as the case requires. Note: An activity will not be an ineligible activity for the purposes of subsections 118 ‑ 425(13) and 118 ‑ 427(14) of the Income Tax Assessment Act 1997 if, for example, it is covered by subsections 118 ‑ 425(13A) and 118 ‑ 427(14A) of that Act. (2) Such a ruling is a public ruling if it: (a) is published; and (b) states that it is a public ruling. (3) * Industry Innovation and Science Australia must, by notifiable instrument, publish notice of the making of a * public ruling. Note: The validity of a ruling is not affected merely because a provision of this Part relating to the form of the ruling or the procedure for making it has not been complied with: see section 357 ‑ 90.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 124 of 2018, effective sch 3 (items 4, 6): 1 Jan 2019 (s 2(1) item 1) | Amended by No 64 of 2020, effective sch 3 (items 124 ‑ 145): 1 July 2020 (s 2(1) item 5) sch 3 (items 302 ‑ 321, 325, 326): 1 Oct 2020 (s 2(1) item 6) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-10 — Application of public rulings

A * public ruling under this Division applies from the time it is published or from such earlier or later time as is specified in the ruling.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6)

s 362-15 — When a public ruling ceases to apply

(1) A * public ruling under this Division may specify the time at which it ceases to apply. (2) If a * public ruling under this Division does not do this, it applies until it is withdrawn.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6)

s 362-20 — Withdrawing public rulings

(1) * Industry Innovation and Science Australia must, by notifiable instrument, withdraw a * public ruling made under this Division if: (a) it is no longer satisfied of the matter about which it was required to be satisfied under subsection 362 ‑ 5(1); or (b) the ruling is inconsistent with a decision of a court. (2) The withdrawal takes effect from the time specified in the instrument. That time must not be before the day after the instrument is registered on the Federal Register of Legislation under the Legislation Act 2003 .

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 64 of 2020, effective sch 3 (items 124 ‑ 145): 1 July 2020 (s 2(1) item 5) sch 3 (items 302 ‑ 321, 325, 326): 1 Oct 2020 (s 2(1) item 6) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-25 — Industry Innovation and Science Australia may make private rulings on a specified activity

(1) * Industry Innovation and Science Australia may, on application, make a ruling that Industry Innovation and Science Australia considers that a specified activity: (a) is not an ineligible activity for the purposes of subsections 118 ‑ 425(13) and 118 ‑ 427(14) of the Income Tax Assessment Act 1997 ; or (b) in specified circumstances, is not such an ineligible activity; if Industry Innovation and Science Australia is satisfied that the activity is not such an ineligible activity, or is not in those circumstances such an ineligible activity, as the case requires. Note: An activity will not be an ineligible activity for the purposes of subsections 118 ‑ 425(13) and 118 ‑ 427(14) of the Income Tax Assessment Act 1997 if, for example, it is covered by subsections 118 ‑ 425(13A) and 118 ‑ 427(14A) of that Act. (2) Such a ruling is a private ruling . Note: Decisions making such a ruling, and decisions refusing to make such a ruling, are reviewable under Part 5 of the Venture Capital Act 2002 . (3) In considering whether to make a * private ruling under this Division, * Industry Innovation and Science Australia must apply any principles made under subsection (4). (4) * Industry Innovation and Science Australia may, by legislative instrument, make principles about making * private rulings under this Division. (5) A failure to comply with subsection (3) does not affect the validity of the ruling.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 124 of 2018, effective sch 3 (items 4, 6): 1 Jan 2019 (s 2(1) item 1) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-30 — Applying for a private ruling

A * general partner of a * limited partnership registered as a * VCLP, an * ESVCLP or an * AFOF may, in the * form approved by * Industry Innovation and Science Australia, apply to Industry Innovation and Science Australia for a * private ruling under this Division.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-35 — Industry Innovation and Science Australia must give notice of its decision

(1) If * Industry Innovation and Science Australia makes a * private ruling under this Division, Industry Innovation and Science Australia must notify the * general partner, and the Commissioner, as soon as practicable after the ruling is made. (2) If * Industry Innovation and Science Australia refuses to make a * private ruling under this Division, Industry Innovation and Science Australia must: (a) notify the * general partner as soon as practicable after the refusal; and (b) provide reasons for the refusal.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-40 — Private rulings must contain certain details

(1) A * private ruling under this Division must state that it is a private ruling. (2) A * private ruling under this Division must identify the entity to whom it applies and specify the activity to which it relates. Note: Industry Innovation and Science Australia must tell the applicant which assumptions Industry Innovation and Science Australia made in making the ruling: see section 357 ‑ 110.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-45 — Application of private rulings

A * private ruling under this Division applies from the time it is published or from such earlier or later time as is specified in the ruling.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6)

s 362-50 — Delays in making private rulings

(1) The applicant for a * private ruling under this Division may give * Industry Innovation and Science Australia a written notice requiring Industry Innovation and Science Australia to make the ruling if, at the end of 60 days after the application was made, Industry Innovation and Science Australia has neither: (a) made the ruling; nor (b) told the applicant that Industry Innovation and Science Australia has refused to make the ruling. (2) The 60 day period mentioned in subsection (1) is extended in a circumstance applicable under the table by the extension period applicable to that circumstance. If 2 or more circumstances are applicable, ignore any overlap between the periods of extension. Extending the 60 day period Item If * Industry Innovation and Science Australia, during the 60 day period: The 60 day period is extended by the number of days in this period: 1 requests further information under section 357 ‑ 105 (as that section applies because of section 362 ‑ 70) the period starting on the day the information was requested and ending on the day it is received by * Industry Innovation and Science Australia 2 tells the applicant about assumptions * Industry Innovation and Science Australia proposes to make under section 357 ‑ 110 (as that section applies because of section 362 ‑ 70) the period starting on the day * Industry Innovation and Science Australia tells the applicant and ending on the day on which Industry Innovation and Science Australia receives the applicant’s response about the assumptions 3 tells the applicant about information provided by a third party that * Industry Innovation and Science Australia proposes to take into account under section 357 ‑ 120 (as that section applies because of section 362 ‑ 70) the period starting on the day * Industry Innovation and Science Australia tells the applicant and ending on the day on which Industry Innovation and Science Australia receives the applicant’s response about the information (3) If * Industry Innovation and Science Australia: (a) does not make the ruling within 30 days of the notice under subsection (1) being given; and (b) has not otherwise declined to make the ruling by the end of that period; Industry Innovation and Science Australia is taken to have refused to make the ruling at the end of that period. Note: Decisions refusing to make such a ruling are reviewable under Part 5 of the Venture Capital Act 2002 .

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-55 — When a private ruling ceases to apply

(1) A * private ruling under this Division may specify the time at which it ceases to apply. (2) If a * private ruling under this Division does not do this, it applies until it is withdrawn.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6)

s 362-60 — Withdrawing private rulings

(1) * Industry Innovation and Science Australia must withdraw a * private ruling made under this Division if: (a) it is no longer satisfied of the matter about which it was required to be satisfied under subsection 362 ‑ 25(1); or (b) the ruling is inconsistent with a decision of a court. (2) * Industry Innovation and Science Australia must give notice of the withdrawal to a * general partner of the * limited partnership to which the ruling related.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-65 — When rulings are binding on the Commissioner and Industry Innovation and Science Australia

(1) A ruling under this Division binds the Commissioner and * Industry Innovation and Science Australia in relation to an entity (whether or not the entity is aware of the ruling) if: (a) the ruling applies to the entity; and (b) the entity relies on the ruling by acting (or omitting to act) in accordance with the ruling. (2) If the ruling is withdrawn under this Division, it continues to bind the Commissioner and * Industry Innovation and Science Australia in relation to the entity until the end of the income year following the income year in which it is withdrawn, but only to the extent that the ruling affected investments made before the withdrawal took effect.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-70 — Application of common rules under Subdivision 357 ‑ B

Despite section 357 ‑ 50: (a) section 357 ‑ 60 does not apply in relation to a ruling under this Division; and (b) sections 357 ‑ 70, 357 ‑ 85 and 357 ‑ 95 apply, in relation to a ruling under this Division, to * Industry Innovation and Science Australia in the same way they apply to the Commissioner; and (c) section 357 ‑ 100 applies: (i) in relation to a ruling under this Division as if a document referred to in paragraph 357 ‑ 100(b) were required to be signed by a member of Industry Innovation and Science Australia, and not by a person referred to in that paragraph; and (ii) in relation to a * private ruling under this Division in the same way it applies to a * public ruling; and (d) sections 357 ‑ 105 to 357 ‑ 125 apply in relation to a ruling under this Division as if references in those sections to the Commissioner were references to Industry Innovation and Science Australia.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 63 of 2016, effective sch 1 (item 48): 20 Oct 2016 (s 2(1) item 1) | Amended by No 101 of 2021, effective sch 1 (item 5): 11 Sept 2021 (s 2(1) item 1)

s 362-75 — Application of Divisions 358 and 359

(1) Division 358 does not apply in relation to a * public ruling under this Division, or in relation to the making of such a ruling. (2) Division 359 does not apply in relation to a * private ruling under this Division, or in relation to the making of such a ruling.

Amendment history: Inserted by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6)

s 370-1 — What this Division is about

The Commissioner may determine a modification of the operation of a provision of a taxation law. The modification must not be inconsistent with the intended purpose or object of the provision. Furthermore: (a) the Commissioner must consider the modification to be reasonable; and (b) the Department, or the Finance Department, must advise that any impact of the modification on the Commonwealth budget would be negligible. Example: After a provision of a taxation law is enacted, it is found that, because of developments in the practices of businesses or the Commissioner, the provision imposes disproportionate compliance costs on taxpayers. The Commissioner might, under this Division, be able to modify the operation of the provision to give timely relief. An entity must not apply a modification if it would produce a less favourable result for the entity. Note: The Commissioner must include in the Commissioner’s annual report under section 3B of this Act information about the exercise of his or her powers under this Division.

Amendment history: Inserted by No 15 of 2017, effective sch 1 (items 2 ‑ 4): 1 Mar 2017 (s 2(1) item 2) sch 4 (items 5, 6, 8): never commenced (s 2(1) items 5, 7) sch 4 (items 86 ‑ 92): 1 Apr 2017 (s 2(1) item 12)

s 370-5 — Commissioner’s remedial power

(1) The Commissioner may, by legislative instrument, determine a modification of the operation of a provision of a * taxation law if: (a) the modification is not inconsistent with the intended purpose or object of the provision; and (b) the Commissioner considers the modification to be reasonable, having regard to: (i) the intended purpose or object of the provision; and (ii) whether the cost of complying with the provision is disproportionate to that intended purpose or object; and (c) any of the following persons advises the Commissioner that any impact of the modification on the Commonwealth budget would be negligible: (i) the Secretary of the Department, or an APS employee in the Department who is authorised by the Secretary for the purposes of this paragraph; (ii) the * Finance Secretary, or an APS employee in the * Finance Department who is authorised by the Finance Secretary for the purposes of this paragraph. (2) If the Commissioner determines a modification of the operation of a provision of a * taxation law under subsection (1), the provision operates with the modification. Scope of determination (3) A modification applies generally, unless the determination states that the modification only applies: (a) to a specified class of entities; or (b) in specified circumstances. (4) An entity (the first entity ) must treat a modification as: (a) not applying to the first entity; and (b) not applying to any other entity; if the modification would produce a less favourable result for the first entity. (5) If the Commissioner determines a modification of the operation of a provision of a * taxation law, the modification (as applied by subsection (2)) does not affect a right or liability under an order (including any judgment, conviction or sentence) made by a court before the commencement of the determination.

Amendment history: Inserted by No 15 of 2017, effective sch 1 (items 2 ‑ 4): 1 Mar 2017 (s 2(1) item 2) sch 4 (items 5, 6, 8): never commenced (s 2(1) items 5, 7) sch 4 (items 86 ‑ 92): 1 Apr 2017 (s 2(1) item 12)

s 370-10 — Intended purpose or object

In ascertaining the intended purpose or object of a provision of a * taxation law for the purposes of paragraph 370 ‑ 5(1)(a) or subparagraph 370 ‑ 5(1)(b)(i): (a) consideration must be given to any documents that may be considered under subsection 15AB(2) of the Acts Interpretation Act 1901 (or that subsection as applied by section 13 of the Legislation Act 2003 ) in relation to the provision; and Example: An explanatory memorandum, second reading speech or report of a parliamentary committee. (b) consideration may be given to any other material (including material not forming part of the provision) that would assist in ascertaining the intended purpose or object of the provision; and (c) primacy is not required to be given to the text of the provision. Note: Ascertaining an intended purpose or object for the purposes of paragraph 370 ‑ 5(1)(a) or subparagraph 370 ‑ 5(1)(b)(i) is not necessarily the same as ascertaining a purpose or object for the purposes of interpreting a provision of an Act.

Amendment history: Inserted by No 15 of 2017, effective sch 1 (items 2 ‑ 4): 1 Mar 2017 (s 2(1) item 2) sch 4 (items 5, 6, 8): never commenced (s 2(1) items 5, 7) sch 4 (items 86 ‑ 92): 1 Apr 2017 (s 2(1) item 12)

s 370-15 — Repeal of determinations

(1) The Commissioner may, by legislative instrument, repeal a determination made under section 370 ‑ 5. (2) A legislative instrument made under subsection (1) of this section may make an application, saving or transitional provision relating to the repeal. (3) Subsection 33(3) of the Acts Interpretation Act 1901 does not apply in relation to the repeal, rescission or revocation of a determination made under section 370 ‑ 5 in this Schedule (but does apply in relation to the amendment or variation of such a determination).

Amendment history: Inserted by No 15 of 2017, effective sch 1 (items 2 ‑ 4): 1 Mar 2017 (s 2(1) item 2) sch 4 (items 5, 6, 8): never commenced (s 2(1) items 5, 7) sch 4 (items 86 ‑ 92): 1 Apr 2017 (s 2(1) item 12)

s 370-20 — Commencement of determinations

A determination made under section 370 ‑ 5, or a repeal made under section 370 ‑ 15, must not commence before the first day it is no longer liable to be disallowed, or to be taken to have been disallowed, under section 42 of the Legislation Act 2003 .

Amendment history: Inserted by No 15 of 2017, effective sch 1 (items 2 ‑ 4): 1 Mar 2017 (s 2(1) item 2) sch 4 (items 5, 6, 8): never commenced (s 2(1) items 5, 7) sch 4 (items 86 ‑ 92): 1 Apr 2017 (s 2(1) item 12)

s 382-1 — What this Division is about

You are required to keep records of indirect tax transactions in accordance with this Division. Deductible gift recipients are required to keep records in accordance with this Division.

Amendment history: Inserted by No 73 of 2006, effective sch 5 (items 39 ‑ 60, 160 ‑ 165): 1 July 2006 (s 2(1) items 18, 19, 21) | Amended by No 55 of 2007, effective 12 Apr 2007

s 382-5 — Keeping records of indirect tax transactions

Records of transactions (1) You must: (a) keep records that record and explain all transactions and other acts you engage in that are relevant to a * supply, importation, acquisition, dealing, manufacture or entitlement to which this subsection applies; and (b) retain those records for the longest of: (i) 5 years after the completion of the transactions or acts to which they relate; and (ii) the * period of review for any assessment of an * assessable amount to which those records, transactions or acts relate; and (iii) if such an assessment has been amended under Subdivision 155 ‑ B—the period of 4 years mentioned in paragraph 155 ‑ 70(2)(a) (which provides for a refreshed period of review) that applies to the latest such amendment. (2) Subsection (1) applies to: (a) a * taxable supply, * taxable importation, * creditable acquisition or * creditable importation made by you; or (b) a * supply made by you that is * GST ‑ free or * input taxed; or (c) a * taxable dealing, in relation to * wine, on which you are liable for * wine tax; or (d) any other assessable dealing within the meaning of the * Wine Tax Act made by you; or (e) your entitlement to a * wine tax credit; or (f) a * taxable supply of a luxury car, or a * taxable importation of a luxury car, made by you; or (g) your entitlement to a special credit under the A New Tax System (Goods and Services Tax Transition) Act 1999 or the A New Tax System (Wine Equalisation Tax and Luxury Car Tax Transition) Act 1999 ; or (h) if you are entitled to a * fuel tax credit for fuel that you acquire, manufacture or import—the acquisition, manufacture or importation; or (i) if you are liable, as a recipient of a taxable supply, to pay the * GST on a taxable supply because of section 15C of the A New Tax System (Goods and Services Tax Transition) Act 1999 —the taxable supply. (3) If you give the Commissioner a return that takes into account: (a) an * input tax credit that is attributable to a * tax period under subsection 29 ‑ 10(5) of the * GST Act; or (b) a * fuel tax credit that is attributable to a tax period or * fuel tax return period under subsection 65 ‑ 5(5) of the Fuel Tax Act 2006 ; you must: (c) keep records that record and explain all transactions and other acts you engage in that are relevant to the acquisition or importation in question; and (d) retain those records for at least 5 years after the return was given to the Commissioner. Records of elections, choices, estimates, determinations and calculations (4) If you make any election, choice, estimate, determination or calculation under an * indirect tax law, you must: (a) keep records containing particulars of: (i) the election, choice, estimate, determination or calculation; and (ii) in the case of an estimate, determination or calculation—the basis on which, and the method by which, the estimate, determination or calculation was made; and (b) retain those records: (i) if the indirect tax law specifies circumstances in which the election, choice, estimate, determination or calculation ceases to have effect—for at least 5 years after the election, choice, estimate, determination or calculation ceased to have effect; or (ii) in any other case—for at least 5 years after the election, choice, estimate, determination or calculation was made. (5) This section requires a record of an * arrangement entered into under section 153 ‑ 50 of the * GST Act to be kept and retained by the party entering into the arrangement as principal. It does not require such a record to be kept or retained by the party entering into the arrangement as intermediary (within the meaning of that section). (6) This section requires records of a notice given under subsection 153 ‑ 65(2) of the * GST Act to be kept and retained by both the entity giving the notice and the entity receiving it. (7) Without limiting subsection (4), if you choose to apply Division 63 (non ‑ profit sub ‑ entities) of the * GST Act, you must: (a) keep records that record: (i) your choice to apply that Division; and (ii) each branch that is treated as a separate entity for the purposes of the * GST law; and (iii) each branch that has ceased to be treated as a separate entity for the purposes of the GST law; and (b) retain those records for at least 5 years after you revoke the choice. Requirements of records (8) The records must be: (a) in English, or readily accessible and easily convertible into English; and (b) such as to enable your liabilities and entitlements under an * indirect tax law to be readily ascertained. Offence (9) An entity commits an offence if: (a) the entity is required to keep or retain a record under this section; and (b) the entity does not keep or retain the record in accordance with this section. Penalty: 30 penalty units. Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility. Note 2: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. Note 3: Section 288 ‑ 25 imposes an administrative penalty if an entity does not keep or retain records as required by this section. (10) Subsection (9) is an offence of strict liability. Note: For strict liability, see section 6.1 of the Criminal Code . Defence (11) Subsection (9) does not apply if: (a) the Commissioner notifies the entity that the entity does not need to retain the record; or (b) the entity is a company that has been finally dissolved. Note: A defendant bears an evidential burden in relation to the matters in subsection (10): see subsection 13.3(3) of the Criminal Code . (12) For the purposes of section 288 ‑ 25, this section does not require an entity to retain a record if: (a) the Commissioner notifies the entity that the entity does not need to retain the record; or (b) the entity is a company that has been finally dissolved. Note: Section 288 ‑ 25 imposes an administrative penalty if an entity does not keep or retain records as required by this section.

Amendment history: Inserted by No 73 of 2006, effective sch 5 (items 39 ‑ 60, 160 ‑ 165): 1 July 2006 (s 2(1) items 18, 19, 21) | Amended by No 20 of 2010, effective sch 1 (items 15, 16, 18 ‑ 20), sch 3 (items 30, 31), sch 5 (items 8 ‑ 11): Royal Assent sch 2 (items 19 ‑ 22, 23(1)): 1 July 2010 | Amended by No 39 of 2012, effective sch 1 (items 1, 2, 29, 190 ‑ 223, 231 ‑ 240): 1 July 2012 (s 2(1) item 2) sch 1 (items 255 ‑ 264): 1 Jan 2017 (s 2(1) item 3) sch 4 (items 19 ‑ 24): 15 Apr 2012 (s 2(1) item 8) | Amended by No 70 of 2015, effective sch 1 (items 151 ‑ 174, 195 ‑ 205): 1 July 2015 (s 2(1) items 3, 6) sch 6 (items 51 ‑ 59): 25 June 2015 (s 2(1) item 17) | Amended by No 72 of 2025, effective sch 4 (items 41 ‑ 43): 1 Jan 2026 (s 2(1) item 5) sch 5 (item 33): 1 July 2024 (s 2(1) item 8)

s 382-15 — Deductible gift recipients to keep records

(1) A * deductible gift recipient must: (a) keep records that record and explain all transactions and other acts the deductible gift recipient engages in that are relevant to the deductible gift recipient’s status as a deductible gift recipient; and (b) retain those records for at least 5 years after the completion of the transactions or acts to which they relate. Note 1: Section 288 ‑ 25 imposes an administrative penalty if an entity does not keep or retain records as required by this section. Note 2: The Commissioner may request information from certain deductible gift recipients: see sections 353 ‑ 20 and 426 ‑ 40. Requirements of records (2) The records must be: (a) in English, or readily accessible and easily convertible into English; and (b) such as to show that the * deductible gift recipient uses each of the following only for the principal purpose of the fund, authority or institution: (i) gifts of money or property for that purpose; (ii) contributions described in item 7 or 8 of the table in section 30 ‑ 15 of the Income Tax Assessment Act 1997 in relation to a * fund ‑ raising event held for that purpose; (iii) money received by the deductible gift recipient because of such gifts or contributions. Exception (3) For the purposes of section 288 ‑ 25, this section does not require a * deductible gift recipient to retain a record if: (a) the Commissioner notifies the deductible gift recipient that the deductible gift recipient does not need to retain the record; or (b) the deductible gift recipient is a company that has been finally dissolved.

Amendment history: Inserted by No 55 of 2007, effective 12 Apr 2007

s 382-20 — Keeping of records in respect of Minimum Tax law

(1) A * Group Entity of an * Applicable MNE Group that is * GloBE located in Australia must: (a) keep records that record and explain whether the Group Entity has complied with the * Minimum Tax law; and (b) retain those records until the latest of the following: (i) the end of 8 years after the records were prepared or obtained; (ii) the end of 8 years after the completion of the transactions or acts to which those records relate; (iii) if there is an assessment of the Group Entity, or another Group Entity of the Applicable MNE Group, of an amount payable under the Minimum Tax law to which those records relate and the period of review for the assessment is extended under subsection 155 ‑ 35(3) or (4)—the end of the period of review as so extended. (2) The records must be: (a) in English, or readily accessible and easily convertible into English; and (b) such as to enable the * Group Entity’s liabilities under the * Minimum Tax law to be readily ascertained. (3) A * Group Entity commits an offence if: (a) the Group Entity is required to keep or retain a record under this section; and (b) the Group Entity does not keep or retain the record in accordance with this section. Penalty: 30 penalty units. Note: Section 288 ‑ 25 imposes an administrative penalty if the Group Entity does not keep or retain records as required by this section. (4) Subsection (3) is an offence of strict liability. (5) This section applies in relation to: (a) a * GloBE Joint Venture of an * Applicable MNE Group; and (b) a * GloBE JV Subsidiary of a GloBE Joint Venture of an Applicable MNE Group; in the same way that it applies in relation to a * Group Entity of an Applicable MNE Group. (6) If: (a) a * Group Entity of an * Applicable MNE Group is a * GloBE Main Entity in respect of a * GloBE Permanent Establishment; and (b) the Group Entity is not * GloBE located in Australia; and (c) the GloBE Permanent Establishment is: (i) GloBE located in Australia; or (ii) a Stateless Constituent Entity (within the meaning of the * Minimum Tax Act); this section applies in relation to the Group Entity in the same way that it applies in relation to a Group Entity that is GloBE located in Australia.

Amendment history: Inserted by No 134 of 2024, effective sch 1 (items 32 ‑ 64, 68, 69): 11 Dec 2024 (s 2(1) item 1)

s 384-5 — What this Division is about

If the Commissioner reasonably believes that you have failed to comply with certain obligations arising under taxation laws, the Commissioner may give you a direction requiring a specified course of education to be undertaken. Table of sections 384 ‑ 10 When a superannuation guarantee education direction may be given 384 ‑ 12 When a tax ‑ records education direction may be given 384 ‑ 15 Content of, and matters relating to compliance with, education directions 384 ‑ 17 Compliance with superannuation guarantee education directions 384 ‑ 20 Approval of courses of education 384 ‑ 25 Costs of course of education 384 ‑ 30 Variation or revocation on Commissioner’s own initiative 384 ‑ 35 Variation on request 384 ‑ 40 Taxation objection

Amendment history: Inserted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6)

s 384-10 — When a superannuation guarantee education direction may be given

(1) The Commissioner may give you a written direction (a superannuation guarantee education direction ) if the Commissioner reasonably believes that an item of the following table applies to you. Education directions Item The item applies to you if… 1 You fail to pay an amount of a tax ‑ related liability set out in subsection (2). 3 You fail to comply with an obligation to keep records under the Superannuation Guarantee (Administration) Act 1992 . 4 You fail to comply with an obligation under this Act that relates to the Superannuation Guarantee (Administration) Act 1992 . Note: For the requirements in the direction, see subsection 384 ‑ 15(1). (2) The following table sets out tax ‑ related liabilities for the purposes of subsection (1). Item Tax ‑ related liability 1 Superannuation guarantee charge payable by you under the Superannuation Guarantee (Administration) Act 1992 2 An amount that is due and payable by you of an estimate under Division 268 of an amount of a liability referred to in paragraph 268 ‑ 10(1)(b) (superannuation guarantee charge)

Amendment history: Inserted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 84 of 2022, effective sch 1 (items 1 ‑ 15, 17 ‑ 20), sch 2: 1 Jan 2023 (s 2(1) item 2) sch 4: 13 Dec 2022 (s 2(1) item 3) | Amended by No 57 of 2025, effective sch 1 (items 151 ‑ 181, 183): 1 July 2026 (s 2(1) item 1)

s 384-12 — When a tax ‑ records education direction may be given

(1) The Commissioner may give you a written direction (a tax ‑ records education direction ) if the Commissioner reasonably believes you have failed, at a specified time or for a specified period, to comply with one or more specified record ‑ keeping obligations under a taxation law that: (a) is not set out in paragraph 288 ‑ 25(2)(a) or (b); and (b) is not the Superannuation Guarantee (Administration) Act 1992 . Note: For the requirements in the direction, see subsection 384 ‑ 15(2). (2) However, the Commissioner must not give you a * tax ‑ records education direction if the Commissioner reasonably believes: (a) you are disengaged from the tax system; or (b) you are deliberately avoiding any of those obligations to keep records.

Amendment history: Inserted by No 84 of 2022, effective sch 1 (items 1 ‑ 15, 17 ‑ 20), sch 2: 1 Jan 2023 (s 2(1) item 2) sch 4: 13 Dec 2022 (s 2(1) item 3)

s 384-15 — Content of, and matters relating to compliance with, education directions

(1) A * superannuation guarantee education direction, or a * tax ‑ records education direction, given to you requires you to: (a) ensure that any of the following individuals undertakes a specified approved course of education (see section 384 ‑ 20): (i) if you are an individual—you; (ii) an individual who makes, or participates in making, decisions that affect the whole, or a substantial part, of your business; and (b) provide the Commissioner with evidence that the individual has completed the course. (2) The direction must specify the period within which you must comply with the direction (which must be a period that is reasonable in the circumstances). Note: The period may be affected by the operation of subsection 384 ‑ 35(7). (3) You are taken to comply with the direction if, and only if: (a) an individual referred to in paragraph (1)(a) undertakes the specified approved course of education during the specified period; and (b) before the end of the specified period, you provide the Commissioner with evidence that the individual has completed the course. Note 1: For a failure to comply with a superannuation guarantee education direction, see section 384 ‑ 17. Note 2: A failure to comply with a tax ‑ records education direction will give rise to the administrative penalty set out in subsection 288 ‑ 25(1).

Amendment history: Inserted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Repealed and substituted by No 84 of 2022, effective sch 1 (items 1 ‑ 15, 17 ‑ 20), sch 2: 1 Jan 2023 (s 2(1) item 2) sch 4: 13 Dec 2022 (s 2(1) item 3)

s 384-17 — Compliance with superannuation guarantee education directions

(1) If you are given a * superannuation guarantee education direction, you must comply with it within the period specified in the direction. Note: Failure to comply with this subsection is an offence against section 8C. (2) You are liable to an administrative penalty of 5 penalty units if you contravene subsection (1). Note: Division 298 contains machinery provisions for administrative penalties.

Amendment history: Inserted by No 84 of 2022, effective sch 1 (items 1 ‑ 15, 17 ‑ 20), sch 2: 1 Jan 2023 (s 2(1) item 2) sch 4: 13 Dec 2022 (s 2(1) item 3)

s 384-20 — Approval of courses of education

(1) The Commissioner may, in writing, approve one or more courses of education for the purposes of giving * education directions. (2) A course approved under subsection (1) may be provided by the Commissioner or by another entity. (3) An approval under subsection (1) is not a legislative instrument.

Amendment history: Inserted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 84 of 2022, effective sch 1 (items 1 ‑ 15, 17 ‑ 20), sch 2: 1 Jan 2023 (s 2(1) item 2) sch 4: 13 Dec 2022 (s 2(1) item 3)

s 384-25 — Costs of course of education

(1) The Commissioner or other entity providing an approved course of education may charge fees for the course. (2) Any fees charged must not be such as to amount to taxation.

Amendment history: Inserted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6)

s 384-30 — Variation or revocation on Commissioner’s own initiative

If the Commissioner has given you an * education direction, the Commissioner may, at any time, vary or revoke the education direction by written notice given to you.

Amendment history: Inserted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 84 of 2022, effective sch 1 (items 1 ‑ 15, 17 ‑ 20), sch 2: 1 Jan 2023 (s 2(1) item 2) sch 4: 13 Dec 2022 (s 2(1) item 3)

s 384-35 — Variation on request

(1) If the Commissioner has given you an * education direction, you may ask the Commissioner to vary the direction. (2) The request must be made by written notice given to the Commissioner before the end of the period specified in the direction for the purposes of subsection 384 ‑ 15(2). (3) The request must set out the reasons for making the request. (4) The Commissioner must decide: (a) to vary the direction in accordance with the request; or (b) to vary the direction otherwise than in accordance with the request; or (c) to refuse to vary the direction. (5) If the Commissioner does not make a decision on the request before the end of 28 days after the day the Commissioner received the request, the Commissioner is taken, at the end of that period, to have decided to refuse the request. (6) If the Commissioner makes a decision on the request before the end of the period referred to in subsection (5), the Commissioner must: (a) notify you of the Commissioner’s decision; and (b) if the decision is to vary the direction (whether or not in accordance with the request)—give you a copy of the varied direction; and (c) if the decision is to refuse to vary the direction, or to vary the direction otherwise than in accordance with the request—give you written reasons for the decision. (7) If you make a request under this section, then, for the purposes of when you must comply with the direction, the period specified in the direction for the purposes of subsection 384 ‑ 15(2) is taken to be extended by 1 day for each day in the period: (a) beginning at the start of the day the Commissioner receives the request; and (b) ending at the end of the day that the Commissioner notifies you that a decision has been made on the request.

Amendment history: Inserted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 84 of 2022, effective sch 1 (items 1 ‑ 15, 17 ‑ 20), sch 2: 1 Jan 2023 (s 2(1) item 2) sch 4: 13 Dec 2022 (s 2(1) item 3)

s 384-40 — Taxation objection

If you are dissatisfied with: (a) a decision of the Commissioner to give an * education direction, or to vary one otherwise than in accordance with a request under section 384 ‑ 35; or (b) a decision of the Commissioner under section 384 ‑ 35 to refuse to vary an education direction; you may object against the decision in the manner set out in Part IVC.

Amendment history: Inserted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 84 of 2022, effective sch 1 (items 1 ‑ 15, 17 ‑ 20), sch 2: 1 Jan 2023 (s 2(1) item 2) sch 4: 13 Dec 2022 (s 2(1) item 3)

s 388-5 — Object of Division

The object of this Division is to set out requirements to ensure the integrity and efficiency of giving material to the Commissioner.

Amendment history: Inserted by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4))

s 388-50 — Approved forms

(1) A return, notice, statement, application or other document under a * taxation law is in the approved form if, and only if: (a) it is in the form approved in writing by the Commissioner for that kind of return, notice, statement, application or other document; and (b) it contains a declaration signed by a person or persons as the form requires (see section 388 ‑ 75); and (c) it contains the information that the form requires, and any further information, statement or document as the Commissioner requires, whether in the form or otherwise; and (d) for a return, notice, statement, application or document that is required to be given to the Commissioner—it is given in the manner that the Commissioner requires (which may include electronically). (1A) Despite subsection (1), a document that satisfies paragraphs (1)(a), (b) and (d) but not paragraph (1)(c) is also in the approved form if it contains the information required by the Commissioner. The Commissioner must specify the requirement in writing. (2) The Commissioner may combine in the same * approved form more than one return, notice, statement, application or other document. (3) The Commissioner may approve a different * approved form for different entities. Example: The Commissioner may require high wealth individuals to lodge a different income tax return to that required to be lodged by an individual whose only income is a salary.

Amendment history: Inserted by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 58 of 2006, effective sch 7 (items 131 ‑ 169, 217 ‑ 219): 22 June 2006 (s 2(1) items 6, 24)

s 388-52 — Saturdays, Sundays and public holidays

Where an * approved form is required to be given to the Commissioner or to another entity by, or on, a day (the lodgment day ) that is not a * business day, the approved form may be given on the first business day after the lodgment day.

Amendment history: Inserted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3))

s 388-55 — Commissioner may defer time for lodgment

(1) The Commissioner may defer the time within which an * approved form is required to be given to the Commissioner or to another entity. (2) A deferral under subsection (1) does not defer the time for payment of any amount to the Commissioner. Note: Section 255 ‑ 10 allows the Commissioner to defer the time for payment of an amount of a tax ‑ related liability.

Amendment history: Inserted by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4))

s 388-60 — Declaration by entity

If you give a return, notice, statement, application or other document to the Commissioner in the * approved form, you must make a declaration in the approved form that any information in the document is true and correct.

Amendment history: Inserted by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4))

s 388-65 — Declaration by entity where agent gives document

(1) If a return, notice, statement, application or other document of yours is to be given to the Commissioner in the * approved form by an agent on your behalf, you must make a declaration in writing: (a) stating that you have authorised the agent to give the document to the Commissioner; and (b) declaring that any information you provided to the agent for the preparation of the document is true and correct. Note: This subsection does not apply if a declaration is made in accordance with subsection 389 ‑ 35(2) in relation to a notification of an amount under Division 389 (see paragraph 389 ‑ 35(3)(a)). (2) You must give the declaration to the agent. (3) You must retain the declaration or a copy of it for: (a) 5 years after it is made; or (b) a shorter period determined by the Commissioner in writing for you; or (c) a shorter period determined by the Commissioner by legislative instrument for a class of entities that includes you. (3A) A determination under paragraph (3)(c) may specify different periods for different classes of entities. (4) You must produce the declaration or copy if requested to do so within that period by the Commissioner. (5) The agent must not give the document to the Commissioner before you make the declaration. (6) You must sign the declaration.

Amendment history: Inserted by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4)) | Amended by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent | Amended by No 41 of 2011, effective sch 5 (items 10 ‑ 14, 21 ‑ 23): 28 June 2011 sch 5 (item 24): 1 July 2011 ( see s 2(1)) sch 5 (items 34, 35, 146, 147, 168 ‑ 172, 401 ‑ 411, 421, 422): Royal Assent | Amended by No 135 of 2024, effective sch 1, sch 3 (items 4 ‑ 6), sch 4: 1 Jan 2025 (s 2(1) items 2, 4) sch 2: 11 Dec 2024 (s 2(1) item 3)

s 388-70 — Declaration by agent

If an agent gives a return, notice, statement, application or other document to the Commissioner in the * approved form on behalf of another entity, the agent must, if the document so requires, make a declaration in the approved form stating that: (a) the document has been prepared in accordance with the information supplied by the other entity; and (b) the agent has received a declaration from the other entity stating that the information provided to the agent is true and correct; and (c) the agent is authorised by the other entity to give the document to the Commissioner. Note: For a notification of an amount under Division 389, a reference to a declaration in paragraph 388 ‑ 70(b) may also be a reference to a declaration made in accordance with subsection 389 ‑ 35(2) (see paragraph 389 ‑ 35(3)(c)).

Amendment history: Inserted by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4)) | Amended by No 135 of 2024, effective sch 1, sch 3 (items 4 ‑ 6), sch 4: 1 Jan 2025 (s 2(1) items 2, 4) sch 2: 11 Dec 2024 (s 2(1) item 3)

s 388-75 — Signing declarations

(1) You must sign a declaration in a return, notice, statement, application or other document you give to the Commissioner in paper form. (2) If your agent gives a return, notice, statement, application or other document to the Commissioner on your behalf in paper form, the document must contain: (a) if the document so requires—a declaration made by you with your signature; and (b) if the document so requires—a declaration made by your agent with the agent’s signature. (3) Any return, notice, statement, application or other document of yours that is * lodged electronically: (a) if you give it to the Commissioner—must contain your declaration (see section 388 ‑ 60) with your * electronic signature; or (b) if your agent gives it to the Commissioner—must contain the agent’s declaration (see section 388 ‑ 70) with the agent’s electronic signature. (4) Any return, notice, statement, application or other document of yours that is given by telephone: (a) if you give it—must contain your * telephone signature; or (b) if your agent gives it—must contain your agent’s telephone signature.

Amendment history: Inserted by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3))

s 388-80 — Electronic notification of BAS amounts

An entity that, under section 31 ‑ 25 of the * GST Act, chooses or is required to * lodge a * GST return electronically must also electronically notify the Commissioner of all other * BAS amounts whose notification is required on the same day as the GST return (ignoring any extension allowed by the Commissioner under section 31 ‑ 10 of that Act or a deferral under section 388 ‑ 55).

Amendment history: Inserted by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4))

s 388-85 — Truncating amounts

If an * approved form that you are required to give the Commissioner specifies that amounts set out in the form are to be expressed in whole dollars, you truncate the amounts to the nearest whole dollar. Example: Stefan Pty Ltd calculates that its PAYG instalment for a quarter is $8,496.73. Because the approved form requires amounts to be truncated, the amount would be reported in its BAS as $8,496.

Amendment history: Inserted by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4))

s 389-1 — What this Division is about

This Division establishes the “Single Touch Payroll” reporting framework. Employers must (unless they are exempt) notify the Commissioner of certain amounts that relate to payments in respect of their employees. Employers may notify the Commissioner of certain other amounts on a voluntary basis. In many cases, this Division has the effect of bringing forward the due date for notification or reporting under other provisions. Notifying under this Division may satisfy an employer’s obligations to notify or report under the other provisions. Employers may make a declaration that authorises an agent to give the Commissioner one or more notifications of an amount under this Division for a period of up to 12 months. Table of sections Operative provisions 389 ‑ 5 Required reporting by employers 389 ‑ 10 Exemptions 389 ‑ 15 Voluntary reporting by employers in relation to taxation laws 389 ‑ 20 Effect on reporting requirements under Subdivision 16 ‑ C 389 ‑ 25 Grace periods for correcting false or misleading notifications 389 ‑ 30 Voluntary reporting by employers in relation to child support laws 389 ‑ 35 Declaration where agent gives notification under this Division

Amendment history: Inserted by No 55 of 2016, effective sch 23 (items 1, 4 ‑ 20, 22 ‑ 24, 35, 36): 1 Oct 2016 (s 2(1) item 25) | Repealed and substituted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Repealed and substituted by No 79 of 2020, effective sch 2 (items 6 ‑ 9): 1 Oct 2020 (s 2(1) item 2) sch 6: 4 Sept 2020 (s 2(1) item 5) | Amended by No 135 of 2024, effective sch 1, sch 3 (items 4 ‑ 6), sch 4: 1 Jan 2025 (s 2(1) items 2, 4) sch 2: 11 Dec 2024 (s 2(1) item 3)

s 389-5 — Required reporting by employers

(1) An entity must notify the Commissioner of an amount of a kind referred to in column 1 of an item in the following table on or before the day referred to in column 2 of that item, if the amount arises as a result of conduct of the entity (such as payment of an amount or provision of a benefit). Amounts to be notified to the Commissioner Item Column 1 The following must be notified … Column 2 … on or before this day 1 The following amounts: (a) an amount the entity must withhold under Subdivision 12 ‑ B (other than section 12 ‑ 55 or 12 ‑ 60), paragraph 12 ‑ 85(b), section 12 ‑ 90, paragraph 12 ‑ 110(1)(ca) or section 12 ‑ 319A; (b) the * withholding payment from which the amount referred to in paragraph (a) is required to be withheld the day by which the amount is required to be withheld (regardless of whether it is withheld) (see section 16 ‑ 5). 2 An amount that: (a) is not covered by item 1; and (b) is paid, on a particular day, by or on behalf of the entity; and (c) constitutes the qualifying earnings (within the meaning of the Superannuation Guarantee (Administration) Act 1992 ) of an individual who is the entity’s employee (within the meaning of that Act but disregarding subsection 12(3) of that Act) the day on which the amount is paid, or would be paid, as mentioned in column 1. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this section. (2) The notification must be in the * approved form. However, the approved form must not require information about an amount unless it is: (a) the amount to be notified under subsection (1); or (b) an amount of a kind determined by the Commissioner under subsection (3). (3) The Commissioner may, by legislative instrument, determine kinds of amounts for the purposes of paragraph (2)(b). (4) In applying item 1 of the table in subsection (1), a requirement to withhold a nil amount is to be treated as a requirement to withhold an amount. (5) This section does not apply to an entity to the extent (if any) that the entity is covered by an exemption under section 389 ‑ 10 for the income year in which the entity’s conduct occurs.

Amendment history: Inserted by No 55 of 2016, effective sch 23 (items 1, 4 ‑ 20, 22 ‑ 24, 35, 36): 1 Oct 2016 (s 2(1) item 25) | Amended by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 4 of 2023, effective sch 2 (items 27 ‑ 31), sch 3 (items 1, 2, 4): 26 Mar 2023 (s 2(1) item 1) | Amended by No 57 of 2025, effective sch 1 (items 151 ‑ 181, 183): 1 July 2026 (s 2(1) item 1)

s 389-10 — Exemptions

Exempting classes of entities (1) The Commissioner may, by legislative instrument, exempt a class of entities from section 389 ‑ 5 for one or more income years. (2) The exemption may be limited to the extent specified in the instrument. Exempting particular entities (3) The Commissioner may, on application by an entity (an exemption application ) or on the Commissioner’s own initiative, exempt the entity from section 389 ‑ 5 for one or more income years. (4) The exemption may be limited to the extent specified in the notice under paragraph (5)(a). (5) The Commissioner must notify the entity in writing if: (a) the Commissioner exempts the entity under subsection (3); or (b) refuses an exemption application by the entity. (6) The Commissioner is taken to have refused an exemption application if the Commissioner fails to notify the entity in writing of the Commissioner’s decision on the application within 60 days after the application is made. (7) The entity may object, in the manner set out in Part IVC, against: (a) a decision of the Commissioner to refuse an exemption application; or (b) a decision of the Commissioner to limit the extent of an exemption under subsection (4).

Amendment history: Inserted by No 55 of 2016, effective sch 23 (items 1, 4 ‑ 20, 22 ‑ 24, 35, 36): 1 Oct 2016 (s 2(1) item 25)

s 389-15 — Voluntary reporting by employers in relation to taxation laws

(3) If: (a) an amount arises as a result of conduct of an entity (such as payment of an amount or provision of a benefit); and (b) the amount is an amount of a kind referred to in column 1 of an item in the following table; the entity may notify the Commissioner of the amount on or before the day referred to in column 2 of that item. Amounts to be notified to the Commissioner Item Column 1 This amount may be notified … Column 2 … on or before this day 1 A * reportable employer superannuation contribution made by the entity in respect of a * financial year for the benefit of an employee of the entity 14 July in the next * financial year. 2 A * reportable fringe benefits amount that an employee of the entity has for an income year in respect of the employee’s employment with the entity 14 July in the * financial year most closely corresponding to the next income year. (4) The notification must be in the * approved form. Note: The approved form may require information about other amounts, in addition to the amount to be notified: see paragraph 388 ‑ 50(1)(c).

Amendment history: Inserted by No 55 of 2016, effective sch 23 (items 1, 4 ‑ 20, 22 ‑ 24, 35, 36): 1 Oct 2016 (s 2(1) item 25) | Amended by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 79 of 2020, effective sch 2 (items 6 ‑ 9): 1 Oct 2020 (s 2(1) item 2) sch 6: 4 Sept 2020 (s 2(1) item 5)

s 389-20 — Effect on reporting requirements under Subdivision 16 ‑ C

(1) An entity is not required to comply with a requirement of: (a) subsection 16 ‑ 150(1) (Commissioner must be notified of amounts); or (b) section 16 ‑ 153 (annual reports—other payments); or (c) section 16 ‑ 155 (annual payment summary); or (d) section 16 ‑ 160 (part ‑ year payment summary); or (e) section 16 ‑ 165 (payment summaries for superannuation lump sums and payments for termination of employment); or (f) section 16 ‑ 175 in relation to compliance with any requirements under section 16 ‑ 155, 16 ‑ 160 or 16 ‑ 165; to give a notice, report or statement to the extent that it would relate to an amount that the entity has notified under section 389 ‑ 5 or 389 ‑ 15. (2) However, paragraphs (1)(b), (c) and (e) do not apply, in relation to requirement to give a notice, report or statement relating to payments made in a * financial year, unless, within 14 days after the end of the financial year, the entity makes a declaration to the Commissioner that: (a) states that the entity has notified under section 389 ‑ 5 or 389 ‑ 15 all the information that the entity would otherwise be required to give under sections 16 ‑ 153, 16 ‑ 155 and 16 ‑ 165 relating to payments made in the financial year; and (b) is in the * approved form.

Amendment history: Inserted by No 55 of 2016, effective sch 23 (items 1, 4 ‑ 20, 22 ‑ 24, 35, 36): 1 Oct 2016 (s 2(1) item 25) | Amended by No 23 of 2018, effective sch 1 (items 72, 73), sch 5 (items 1 ‑ 4, 12 ‑ 28): 1 Apr 2018 (s 2(1) items 8, 12) sch 1 (items 75 ‑ 79): 30 Mar 2018 (s 2(1) item 9)

s 389-25 — Grace periods for correcting false or misleading notifications

When notifications can be corrected (1) An entity that has made a statement (a withholding statement ) under section 389 ‑ 5 notifying an amount under item 1 or 2 of the table in subsection 389 ‑ 5(1) may correct the statement: (a) within the period determined by the Commissioner under subsection (2); or (b) if paragraph (a) does not apply but the entity is covered by a determination under subsection (5)—within the period specified in that determination. Note: Correcting the statement can protect the person from liability for a false or misleading withholding statement: see subsections 8K(2A), 8N(2) and 284 ‑ 75(8). Determinations for particular entities (2) The Commissioner may determine the period within which the entity may correct a withholding statement. (3) The Commissioner must give the entity written notice of the determination. (4) The entity may object, in the manner set out in Part IVC, against a decision of the Commissioner determining a period under subsection (2) relating to the entity. Determinations for classes of entities (5) The Commissioner may, by legislative instrument, determine the period within which entities included in a class of entities specified in the determination may correct a withholding statement.

Amendment history: Inserted by No 55 of 2016, effective sch 23 (items 1, 4 ‑ 20, 22 ‑ 24, 35, 36): 1 Oct 2016 (s 2(1) item 25) | Amended by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 57 of 2025, effective sch 1 (items 151 ‑ 181, 183): 1 July 2026 (s 2(1) item 1)

s 389-30 — Voluntary reporting by employers in relation to child support laws

(1) If there is an amount of a kind referred to in column 1 of an item of the following table, the entity referred to in that item may notify the Commissioner of the amount on or before the day referred to in column 2 of that item. Amounts that may be notified to the Commissioner Item Column 1 This amount may be notified … Column 2 … on or before this day 1 An amount the entity deducted under Part IV of the Child Support (Registration and Collection) Act 1988 from salary or wages paid to an employee of the entity the day on which the deduction is made. 2 A nil amount, if: (a) a notice given to the entity under subsection 45(1) of the Child Support (Registration and Collection) Act 1988 is in force on a day (the reporting day ) in relation to a payer who is an employee of the entity; and (b) either: (i) the entity pays salary or wages to the employee on the reporting day but does not make a deduction under Part IV of that Act in relation to the employee and the payment; or (ii) the reporting day is a day on which the entity would ordinarily pay salary or wages to the employee, but the entity does not do so because no salary or wages are payable the reporting day. 3 An amount the entity paid to the Child Support Registrar if: (a) the entity paid the amount in accordance with a notice given to the entity under section 72A of the Child Support (Registration and Collection) Act 1988 ; and (b) the entity is the employer of the relevant debtor referred to in that section the day on which the amount is paid. Note: Voluntary reporting of an amount referred to in item 1 or 2 of the table may affect the entity’s reporting requirements under the Child Support (Registration and Collection) Act 1988 : see subsection 47(1B) of that Act. (2) The notification must be in the * approved form. Note: The approved form may require information about other amounts, in addition to the amount to be notified: see paragraph 388 ‑ 50(1)(c). (3) A disclosure of personal information (within the meaning of the Privacy Act 1988 ) under subsection (1) is taken for the purposes of that Act to be authorised by this section. (4) The following terms used in the table in subsection (1) have the same meaning as in the Child Support (Registration and Collection) Act 1988 : (a) employee (for this purpose, the term has the same meaning as it has when used in Part IV of that Act); (b) employer ; (c) payer ; (d) salary or wages .

Amendment history: Inserted by No 79 of 2020, effective sch 2 (items 6 ‑ 9): 1 Oct 2020 (s 2(1) item 2) sch 6: 4 Sept 2020 (s 2(1) item 5)

s 389-35 — Declaration where agent gives notification under this Division

(1) This section applies if a notification of an amount that is required or permitted to be given under this Division is to be given to the Commissioner in the * approved form by an agent on behalf of an entity. (2) The entity may make a declaration in writing: (a) stating that the entity has authorised the agent to give one or more notifications under this Division to the Commissioner; and (b) declaring that any information the entity has provided, or will provide, to the agent for the preparation of any such notifications is, or will be, true and correct; and (c) specifying the day the declaration is made and the maximum period for the declaration (which must not exceed 12 months starting on the day the declaration is made). (3) If the entity makes a declaration under subsection (2), then for the period in subsection (4): (a) subsection 388 ‑ 65(1) does not apply in relation to any notifications to be given by the agent on behalf of the entity under this Division; and (b) subsections 388 ‑ 65(2) to (6) apply to the declaration in the same way those subsections apply to a declaration made under subsection 388 ‑ 65(1); and (c) for the purposes of section 388 ‑ 70, the declaration is taken to be a declaration of the kind mentioned in paragraph 388 ‑ 70(b). (4) The period for a declaration made under subsection (2): (a) begins on the day the declaration is made; and (b) ends on the earliest of: (i) the last day of the period specified in the declaration; or (ii) if the entity withdraws the declaration—the day the agent is notified of the withdrawal; or (iii) if there is a material change in the relationship between the entity and the agent, or in the affairs of the entity since the declaration was made—the day the agent becomes aware of the change or is notified of the change by the entity.

Amendment history: Inserted by No 135 of 2024, effective sch 1, sch 3 (items 4 ‑ 6), sch 4: 1 Jan 2025 (s 2(1) items 2, 4) sch 2: 11 Dec 2024 (s 2(1) item 3)

s 390-1 — What this Division is about

Superannuation providers must give the Commissioner information about superannuation plans (such as contributions to superannuation plans) periodically. Superannuation providers are also required to give information about roll ‑ over superannuation benefits paid from superannuation plans. Life insurance companies must give the Commissioner information about holders of certain life insurance policies. Note: For requirements for payment summaries in relation to superannuation lump sums, see section 16 ‑ 165.

Amendment history: Inserted by No 9 of 2007, effective sch 1 (items 19 ‑ 24), sch 2 (items 4, 5), sch 4 (items 11 ‑ 16), sch 5 (items 31 ‑ 36): 15 Mar 2007 (s 2(1) items 2 ‑ 8) | Amended by No 15 of 2007, effective sch 1 (items 366 ‑ 393, 406(1) ‑ (3)), sch 3 (items 61 ‑ 66), sch 4 (item 12): 15 Mar 2007 (s 2(1) items 2, 8, 12) | Amended by No 56 of 2010, effective s 4(2), sch 3 (items 9, 10(1), (5)), sch 5 (items 191 ‑ 193), sch 6 (items 12 ‑ 14, 27 ‑ 36, 44 ‑ 53, 110, 111, 116, 159, 160): 3 June 2010 (s 2(1) items 1, 7, 11, 15, 20, 23) sch 1 (item 8): 17 Dec 2010 (s 2(1) item 4) sch 2 (items 3, 4), sch 6 (items 58 ‑ 97, 101 ‑ 105): 4 June 2010 (s 2(1) items 6, 16, 17) | Amended by No 81 of 2016, effective sch 1 (items 10 ‑ 25, 33, 36), sch 2 (items 19, 20), sch 10 (items 55 ‑ 65, 86 ‑ 93): 1 Jan 2017 (s 2(1) items 2, 6) sch 10 (items 1, 29 ‑ 47, 49 ‑ 54): 1 July 2018 (s 2(1) item 5)

s 390-5 — Member information statements

(1) A * superannuation provider in relation to a * superannuation plan must give the Commissioner a statement in relation to an individual if the individual held a * superannuation interest in the plan at any time during the period specified in a determination under subsection (6). Note 1: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. Note 2: If a person is dissatisfied with a statement given to the Commissioner by a superannuation provider under this section, the person may make a complaint under the AFCA scheme (within the meaning of the Corporations Act 2001 ). (4) A statement under subsection (1) must be in the * approved form. (5) The statement must be given to the Commissioner on a day specified in the determination under subsection (6). Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. (6) The Commissioner may determine, by legislative instrument: (a) the period mentioned in subsection (1); and (b) the day on which a statement must be given to the Commissioner. (7) The period specified in the determination: (a) may be: (i) all or part of an income year; or (ii) all or part of a financial year; or (iii) any other period; and (b) may be different: (i) for different kinds of * superannuation provider; and (ii) in relation to any other matter. (8) Subsection (7) does not limit the way in which the determination may specify the period. (9) The * approved form may require the statement to contain the following information: (a) information relating to the contributions made to the * superannuation plan, including the amount and type of the contributions; (b) the * value or * total superannuation balance value of any * superannuation interest, or superannuation account, the individual held in the superannuation plan at a particular time; (ba) the amount of the individual’s * relevant superannuation earnings for an income year for any superannuation interest the individual held in the superannuation plan (unless it is an amount taken to be nil under subsection 296 ‑ 55(2) of the Income Tax Assessment Act 1997 ); (c) if no contributions were made to the superannuation plan in respect of the individual during the period—a statement to that effect; (d) information relating to the Superannuation (Unclaimed Money and Lost Members) Act 1999 ; (e) if the superannuation plan is a * regulated superannuation fund in relation to which the individual has an LRBA amount under section 307 ‑ 231 of the Income Tax Assessment Act 1997 (about limited recourse borrowing arrangements)—the amount of the LRBA amount. (9A) Treat the following as contributions for the purposes of this section: (a) * notional taxed contributions in relation to a * defined benefit interest in the * superannuation plan; (b) amounts, mentioned in subsection 291 ‑ 25(3) or paragraph 292 ‑ 90(4)(a) of the Income Tax Assessment Act 1997 , allocated by the * superannuation provider in relation to the superannuation plan; (c) amounts mentioned in paragraph 292 ‑ 90(4)(c) of that Act; (d) * defined benefit contributions in relation to a * defined benefit interest in the superannuation plan. (10) Subsection (9) does not limit the information that the * approved form may require the statement to contain. (11) The * approved form may require the statement to contain the * tax file number of: (a) the * superannuation provider; and (b) the * superannuation plan; and (c) the individual who holds the * superannuation interest in the plan if: (i) the individual has quoted the individual’s tax file number to the superannuation provider; or (ii) a person has quoted the individual’s tax file number to the superannuation provider (and had authority to do so).

Amendment history: Inserted by No 9 of 2007, effective sch 1 (items 19 ‑ 24), sch 2 (items 4, 5), sch 4 (items 11 ‑ 16), sch 5 (items 31 ‑ 36): 15 Mar 2007 (s 2(1) items 2 ‑ 8) | Amended by No 158 of 2012, effective sch 2 (item 69): 31 Jan 2013 (s 2(1) item 5) sch 3: 28 Nov 2012 (s 2(1) item 6) sch 4 (item 74): 29 Nov 2012 (s 2(1) item 10) | Amended by No 82 of 2013, effective sch 3 (items 2 ‑ 5, 14 ‑ 37, 39): 28 June 2013 (s 2) | Amended by No 118 of 2013, effective sch 1 (items 2, 29 ‑ 36, 81 ‑ 84, 101 ‑ 110): 29 June 2013 (s 2(1) items 2, 10, 11) | Amended by No 13 of 2018, effective s 4: 5 Mar 2018 (s 2(1) item 1) sch 1 (items 26 ‑ 31, 54 ‑ 58): 6 Mar 2018 (s 2(1) items 2, 6) sch 3 (items 31, 32): 5 Mar 2022 (s 2(1) item 8) | Amended by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 78 of 2019, effective sch 3 (item 3): 1 Jan 2020 (s 2(1) item 3) | Amended by No 76 of 2023, effective sch 2 (items 727–737): 20 Oct 2023 (s 2(1) item 2) sch 6 (items 39, 40): 21 Sept 2023 (s 2(1) item 22) sch 6 (items 43, 44): 1 Oct 2023 (s 2(1) item 23) | Amended by No 8 of 2026, effective sch 1 (items 61 ‑ 91), sch 2 (item 11): 1 Apr 2026 (s 2(1) items 2, 3)

s 390-7 — Grace periods for correcting false or misleading member information statements

When statements can be corrected (1) A * superannuation provider in relation to a * superannuation plan that has given a statement to the Commissioner under section 390 ‑ 5 may correct the statement: (a) within the period determined by the Commissioner under subsection (2) of this section; or (b) if paragraph (a) does not apply but the superannuation provider is covered by a determination under subsection (5)—within the period specified in that determination. Note 1: Correcting the statement can protect the superannuation provider from liability for a false or misleading statement: see subsections 8K(2B), 8N(3) and 284 ‑ 75(9). Note 2: If no period has been determined under subsection (2) or (5) in relation to a superannuation provider, the superannuation provider will not be able to take advantage of the grace period provided for by this section. Determinations for particular superannuation providers (2) The Commissioner may determine the period within which the * superannuation provider may correct a statement. (3) The Commissioner must give the * superannuation provider written notice of the determination. (4) The * superannuation provider may object, in the manner set out in Part IVC, against a decision of the Commissioner determining a period under subsection (2) relating to the superannuation provider. Determinations for classes of superannuation providers (5) The Commissioner may, by legislative instrument, determine the period within which * superannuation providers included in a class of superannuation providers specified in the determination may correct a statement.

Amendment history: Inserted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6)

s 390-10 — Statements about roll ‑ over superannuation benefits etc.

(1) This section applies if: (a) a * superannuation provider (the first provider ) in relation to a * superannuation plan (the first plan ) pays a * roll ‑ over superannuation benefit to another superannuation provider in relation to another superannuation plan; or (b) a superannuation provider (also the first provider ) in relation to a superannuation plan (also the first plan ) pays to another superannuation provider in relation to another superannuation plan a * superannuation benefit (other than a roll ‑ over superannuation benefit) in these circumstances: (i) the first plan or the other superannuation plan is, or both are, a * non ‑ complying superannuation plan for the income year in which the benefit is paid; or (ii) the first plan or the other superannuation plan was, or both were, a non ‑ complying superannuation plan for the previous income year. (2) The first provider in relation to the first plan must: (a) give the other superannuation provider a statement in relation to the benefit within 7 days after the day on which the benefit is paid; and (b) unless the benefit is an * involuntary roll ‑ over superannuation benefit, give the individual in respect of whom the benefit is paid a statement in relation to the benefit within 30 days after the day on which the benefit is paid. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (3) A statement under subsection (2) must be in the * approved form. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. (4) The * approved form may require the statement to contain the following information: (a) information relating to contributions made to the first plan in respect of the individual during the period specified in a determination under subsection (5) in which the benefit is paid, to the extent those contributions are reflected in that benefit; (b) other information relating to the benefit, including the * tax free component, * taxable component, * element taxed in the fund and * element untaxed in the fund (as applicable) of the benefit. (5) The Commissioner may determine, by legislative instrument, the period mentioned in paragraph (4)(a). (6) The period specified in the determination: (a) may be: (i) all or part of an income year; or (ii) all or part of a financial year; or (iii) any other period; and (b) may be different: (i) for different kinds of * superannuation provider; and (ii) in relation to any other matter. (7) Subsection (6) does not limit the way in which the determination may specify the period. (8) The * approved form may require the statement to contain different information depending on whether paragraph (1)(a) or (b) applies. (9) Subsections (4) and (8) do not limit the information that the * approved form may require the statement to contain. (10) The * approved form may require the statement to contain the * tax file number of: (a) the first provider; and (b) the first plan; and (c) the individual in respect of whom the benefit is paid if: (i) the individual has quoted the individual’s tax file number to the first provider; or (ii) a person who made at least some of the contributions mentioned in paragraph (4)(a) has quoted the individual’s tax file number to the first provider (and had authority to do so).

Amendment history: Inserted by No 9 of 2007, effective sch 1 (items 19 ‑ 24), sch 2 (items 4, 5), sch 4 (items 11 ‑ 16), sch 5 (items 31 ‑ 36): 15 Mar 2007 (s 2(1) items 2 ‑ 8) | Amended by No 15 of 2007, effective sch 1 (items 366 ‑ 393, 406(1) ‑ (3)), sch 3 (items 61 ‑ 66), sch 4 (item 12): 15 Mar 2007 (s 2(1) items 2, 8, 12) | Amended by No 21 of 2015, effective sch 1 (items 18 ‑ 49), sch 5, sch 7 (items 33 ‑ 43): 20 Mar 2015 (s 2(1) items 2, 6, 15) sch 2 (items 39 ‑ 46): 1 May 2015 (s 2(1) item 3) sch 4 (items 8, 9): 1 July 2015 (s 2(1) item 5) sch 6 (items 26 ‑ 37, 73): 19 Mar 2015 (s 2(1) item 11, 13) sch 6 (items 60 ‑ 72, 74 ‑ 79): never commenced (s 2(1) items 12, 14)

s 390-12 — Statements about benefits paid to KiwiSaver schemes

(1) This section applies if the trustee of a * complying superannuation fund pays a * superannuation benefit to a * KiwiSaver scheme provider. (2) The trustee must: (a) give to the * KiwiSaver scheme provider a statement under this section within 7 days after the day on which the benefit is paid; and (b) give to the individual in respect of whom the benefit is paid a statement in relation to the benefit within 30 days after the day on which the benefit is paid. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (3) A statement under subsection (2) must be in the * approved form. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. (4) The * approved form may require the statement to contain the following information: (a) information relating to contributions made to the * complying superannuation fund in respect of the individual during the period specified in a determination under subsection (5) in which the benefit is paid, to the extent those contributions are reflected in that benefit; (b) other information relating to the benefit, including the * tax free component and * taxable component (as applicable) of the benefit. (5) The Commissioner may determine, by legislative instrument, the period mentioned in paragraph (4)(a). (6) The period specified in the determination: (a) may be: (i) all or part of an income year; or (ii) all or part of a * financial year; or (iii) any other period; and (b) may be different: (i) for different kinds of trustee; and (ii) in relation to any other matter. (7) Subsection (6) does not limit the way in which the determination may specify the period. (8) Subsection (4) does not limit the information that the * approved form may require the statement to contain.

Amendment history: Inserted by No 181 of 2012, effective sch 1 (items 10 ‑ 12): 1 July 2013 (s 2(1) and gaz 2013, No GN25)

s 390-15 — Superannuation statements to members

(1) An individual, or the trustee of an individual’s estate: (a) may ask a * superannuation provider who has given information in a statement under section 390 ‑ 5, 390 ‑ 10 or 390 ‑ 12 in relation to the individual to give the individual or the trustee the same information; and (b) may ask a * life insurance company that has given information in a statement under section 390 ‑ 20 in relation to the individual to give the individual or the trustee the same information; and (c) may ask the superannuation provider or life insurance company to give the information in writing. (2) The * superannuation provider or * life insurance company must: (a) comply with the request within 30 days after receiving the request; and (b) if the individual or the trustee asked for the information to be given in writing—give the information in the * approved form. Note 1: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. Note 2: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. (3) Subsection (2) does not apply if the * superannuation provider or * life insurance company has given the same information to the individual or the trustee previously (whether or not on request by the individual or trustee). (4) If the individual or the trustee does not ask for the information to be given in writing, the * superannuation provider or * life insurance company may give the information to the individual or trustee in a way that the provider or company considers appropriate.

Amendment history: Inserted by No 9 of 2007, effective sch 1 (items 19 ‑ 24), sch 2 (items 4, 5), sch 4 (items 11 ‑ 16), sch 5 (items 31 ‑ 36): 15 Mar 2007 (s 2(1) items 2 ‑ 8) | Amended by No 181 of 2012, effective sch 1 (items 10 ‑ 12): 1 July 2013 (s 2(1) and gaz 2013, No GN25) | Amended by No 81 of 2016, effective sch 1 (items 10 ‑ 25, 33, 36), sch 2 (items 19, 20), sch 10 (items 55 ‑ 65, 86 ‑ 93): 1 Jan 2017 (s 2(1) items 2, 6) sch 10 (items 1, 29 ‑ 47, 49 ‑ 54): 1 July 2018 (s 2(1) item 5)

s 390-20 — Statements relating to holders of certain life insurance policies

(1) A * life insurance company must give the Commissioner a statement in relation to an individual if: (a) the individual held: (i) an * exempt life insurance policy that provides for an * annuity that is a * superannuation income stream that is in the * retirement phase; or (ii) a * life insurance policy covered by paragraph (b) of the definition of complying superannuation life insurance policy ; and (b) the individual held the policy at any time during the period specified in the determination under subsection (3). Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (2) The statement must: (a) be in the * approved form; and (b) be given to the Commissioner on a day specified in the determination under subsection (3). (3) The Commissioner may determine, by legislative instrument: (a) the period mentioned in subsection (1); and (b) the day on which a statement must be given to the Commissioner. (4) The determination may specify a period beginning before, or a day before, the commencement of either or both of the following: (a) this section; (b) the determination. (5) The * approved form may require the statement to contain information about the policy held by the individual. (6) The * approved form may require the statement to contain the * tax file number of: (a) the * life insurance company; and (b) the individual who holds the policy if: (i) the individual has quoted the individual’s tax file number to the life insurance company; or (ii) a person has quoted the individual’s tax file number to the life insurance company (and had authority to do so).

Amendment history: Inserted by No 81 of 2016, effective sch 1 (items 10 ‑ 25, 33, 36), sch 2 (items 19, 20), sch 10 (items 55 ‑ 65, 86 ‑ 93): 1 Jan 2017 (s 2(1) items 2, 6) sch 10 (items 1, 29 ‑ 47, 49 ‑ 54): 1 July 2018 (s 2(1) item 5)

s 390-65 — Statements relating to release authorities

(1) A * superannuation provider in relation to a * superannuation plan must give the Commissioner a statement under this section if the superannuation provider has: (a) been given a release authority in accordance with: (ii) section 292 ‑ 80B of the Income Tax (Transitional Provisions) Act 1997 ; or (iii) Subdivision 135 ‑ B in this Schedule; and (b) paid an amount out of the plan in accordance with the release authority. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (2) The statement must be given within 30 days after the amount is paid out of the plan. (3) A statement under subsection (1) must be in the * approved form. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. (4) The * approved form must require the statement to contain information relating to the release authority. (5) The * approved form may require the statement to contain the following information: (a) the amount paid; (b) details relating to the * superannuation provider in relation to the * superannuation plan; (c) the individual in respect of whom the release authority was given to the superannuation provider. (6) Subsection (5) does not limit the information that the * approved form may require the statement to contain. (7) The * superannuation provider must also give the individual to whom the release authority relates a copy of the statement within 30 days after the amount is paid out of the plan. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection.

Amendment history: Inserted by No 9 of 2007, effective sch 1 (items 19 ‑ 24), sch 2 (items 4, 5), sch 4 (items 11 ‑ 16), sch 5 (items 31 ‑ 36): 15 Mar 2007 (s 2(1) items 2 ‑ 8) | Amended by No 82 of 2013, effective sch 3 (items 2 ‑ 5, 14 ‑ 37, 39): 28 June 2013 (s 2) | Amended by No 81 of 2016, effective sch 1 (items 10 ‑ 25, 33, 36), sch 2 (items 19, 20), sch 10 (items 55 ‑ 65, 86 ‑ 93): 1 Jan 2017 (s 2(1) items 2, 6) sch 10 (items 1, 29 ‑ 47, 49 ‑ 54): 1 July 2018 (s 2(1) item 5)

s 390-115 — Change or omission in information given to the Commissioner

(1) If a * superannuation provider in relation to a * superannuation plan becomes aware of a material change or material omission in any information given to the Commissioner in relation to the plan under this Division, the provider must: (a) tell the Commissioner of the change in the * approved form; or (b) give the omitted information to the Commissioner in the approved form. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (2) Information required by subsection (1) must be given no later than 30 days after the * superannuation provider becomes aware of the change or omission. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form.

Amendment history: Inserted by No 9 of 2007, effective sch 1 (items 19 ‑ 24), sch 2 (items 4, 5), sch 4 (items 11 ‑ 16), sch 5 (items 31 ‑ 36): 15 Mar 2007 (s 2(1) items 2 ‑ 8)

s 392-1 — What this Division is about

A company that provides ESS interests to an individual under an employee share scheme during a year must, at the end of the year (and, in certain cases, at the end of a later year), give certain information to the Commissioner and to the individual. Note: For the tax treatment of employee share schemes, see Division 83A of the Income Tax Assessment Act 1997 .

Amendment history: Inserted by No 133 of 2009, effective sch 1 (items 2 ‑ 5, 78 ‑ 82, 86, 87): 14 Dec 2009 sch 3 (items 41 ‑ 45): Royal Assent

s 392-5 — Statements by providers

Statements (1) An entity (the provider ) must give a statement to the Commissioner and to an individual for a * financial year if: (a) both of the following subparagraphs apply: (i) the provider provides * ESS interests to the individual during the year; (ii) Subdivision 83A ‑ B or 83A ‑ C of the Income Tax Assessment Act 1997 (about employee share schemes) applies to the interests; or (b) all of the following subparagraphs apply: (i) the provider has provided ESS interests to the individual (whether during the year or during an earlier year); (ii) Subdivision 83A ‑ C of the Income Tax Assessment Act 1997 (about employee share schemes) applies to the interests; (iii) the * ESS deferred taxing point for the interests occurs during the year. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. Form of statements (2) The statement must be in the * approved form. (3) The * approved form may require the statement to contain the following information: (a) the provider’s * ABN; (b) the following information about the individual: (i) the individual’s name and address; (ii) if the individual has quoted his or her * tax file number to the provider—that tax file number; (iii) if the individual acquired the interests in relation to any services provided to the provider, or to a * subsidiary of the provider, in the course or furtherance of an * enterprise * carried on by the individual, and the individual has * quoted his or her ABN to the provider—that ABN; (c) the following information about any interests to which both paragraph (1)(a) of this section and Subdivision 83A ‑ B of the Income Tax Assessment Act 1997 apply: (i) the number of the interests; (ii) the amount paid, at or before the time of acquisition, towards acquiring the interests; (iii) the provider’s estimate of the * market value of the interests at the time of acquisition; (iv) the amount of * TFN withholding tax (ESS) paid or payable by the provider in respect of the interests during the year; (d) the following information about any interests to which both paragraph (1)(a) of this section and Subdivision 83A ‑ C of the Income Tax Assessment Act 1997 apply: (i) the number of the interests; (ii) the amount paid, at or before the time of acquisition, towards acquiring the interests; (e) the following information about any interests to which paragraph (1)(b) applies: (i) the number of the interests; (ii) the amount paid, after the time of acquisition but not after the * ESS deferred taxing point, towards acquiring the interests; (iii) the provider’s estimate of the market value of the interests at the ESS deferred taxing point; (iv) the amount of TFN withholding tax (ESS) paid or payable by the provider in respect of the interests during the year. Note: Regulations made for the purposes of section 83A ‑ 315 of the Income Tax Assessment Act 1997 may substitute different amounts for the market values of the ESS interests: see section 392 ‑ 15 in this Schedule. (4) Subsection (3) does not limit the information that the * approved form may require the statement to contain. When statements must be given (5) The statement must be given: (a) to the individual no later than 14 July after the end of the year; and (b) to the Commissioner no later than 14 August after the end of the year. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. Disregard 30 day rule for ESS deferred taxing point if provider does not know when shares are disposed of etc. (6) For the purposes of Subdivision 14 ‑ C (about TFN withholding tax (ESS)) and this Division, in working out the * ESS deferred taxing point for an * ESS interest, disregard subsection 83A ‑ 115(3) or 83A ‑ 120(3) (whichever is applicable) of the Income Tax Assessment Act 1997 (about the 30 day rule) if the provider does not know the time worked out under that subsection at the earlier of: (a) the time (if any) the provider gives a statement to the relevant individual under this section for the * financial year mentioned in subsection (7); and (b) the later of: (i) 14 July after the end of the financial year mentioned in subsection (7); and (ii) if, under section 388 ‑ 55, the Commissioner defers to a later time the time within which the statement under this section for that financial year is required to be given to the individual—that later time. (7) The * financial year is the financial year in which the * ESS deferred taxing point for the * ESS interest occurs, disregarding subsection 83A ‑ 115(3) or 83A ‑ 120(3) (whichever is applicable) of the Income Tax Assessment Act 1997 (about the 30 day rule).

Amendment history: Inserted by No 133 of 2009, effective sch 1 (items 2 ‑ 5, 78 ‑ 82, 86, 87): 14 Dec 2009 sch 3 (items 41 ‑ 45): Royal Assent

s 392-10 — Change or omission in information given to the Commissioner

(1) If the provider becomes aware of a material change or material omission in any information given to the individual or the Commissioner under this Division, the provider must: (a) tell the individual or the Commissioner, as applicable, of the change in the * approved form; or (b) give the omitted information to the individual or the Commissioner, as applicable, in the approved form. (2) Information required by subsection (1) must be given no later than 30 days after the provider becomes aware of the change or omission. Note 1: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. Note 2: Section 286 ‑ 75 provides an administrative penalty for breach of this section.

Amendment history: Inserted by No 133 of 2009, effective sch 1 (items 2 ‑ 5, 78 ‑ 82, 86, 87): 14 Dec 2009 sch 3 (items 41 ‑ 45): Royal Assent

s 392-15 — Application of certain provisions of Division 83A of the Income Tax Assessment Act 1997

The following provisions of the Income Tax Assessment Act 1997 have effect for the purposes of this Division in the same way as they have for the purposes of Division 83A of that Act: (a) section 83A ‑ 130 (about takeovers and restructures); (b) section 83A ‑ 305 (about associates); (c) section 83A ‑ 315 (about market values and discounts); (d) section 83A ‑ 320 (about trusts); (e) section 83A ‑ 325 (about relationships similar to employment); (f) section 83A ‑ 335 (about stapled securities); (g) section 83A ‑ 340 (about indeterminate rights).

Amendment history: Inserted by No 133 of 2009, effective sch 1 (items 2 ‑ 5, 78 ‑ 82, 86, 87): 14 Dec 2009 sch 3 (items 41 ‑ 45): Royal Assent

s 393-1 — What this Division is about

An investment body must give to the Commissioner quarterly reports about the quoting of investors’ tax file numbers and ABNs, and annual reports on Part VA investments. Table of sections 393 ‑ 5 Reports about quoting tax file numbers and ABNs 393 ‑ 10 Annual investment income reports 393 ‑ 15 Errors in reports

Amendment history: Inserted by No 2 of 2015, effective sch 2 (items 8 ‑ 20, 72, 73, 90 ‑ 99), sch 4 (items 75 ‑ 79): 25 Feb 2015 (s 2(1) items 3, 5, 6) sch 2 (items 66 ‑ 71): 1 July 2015 (s 2(1) item 4)

s 393-5 — Reports about quoting tax file numbers and ABNs

(1) If an entity is an * investment body in relation to a * Part VA investment for which either of the following occurs during a * quarter: (a) an * investor’s * tax file number is * quoted in connection with the investment; (b) an investor’s * ABN is quoted in connection with the investment; the entity must give to the Commissioner a report on all Part VA investments, in relation to which the entity is an investment body, for which either of those events occurs during the quarter. (2) The report must be in the * approved form. (3) The report must be given to the Commissioner no later than 28 days after the end of the * quarter. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. (4) Subsection (1) does not apply to an * investment body in relation to a * quarter for which the investment body has complied with an * arrangement in force between the investment body and the Commissioner relating to the reporting of * tax file numbers and * ABNs.

Amendment history: Inserted by No 2 of 2015, effective sch 2 (items 8 ‑ 20, 72, 73, 90 ‑ 99), sch 4 (items 75 ‑ 79): 25 Feb 2015 (s 2(1) items 3, 5, 6) sch 2 (items 66 ‑ 71): 1 July 2015 (s 2(1) item 4)

s 393-10 — Annual investment income reports

(1) An entity must give to the Commissioner a report, for a * financial year, on all * Part VA investments in relation to which it was an * investment body at any time during the year. (2) The report must be in the * approved form. (3) The report must be given to the Commissioner within the following period after the end of the * financial year: (a) the period the Commissioner specifies by legislative instrument; or (b) otherwise—4 months. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. (4) The report need not include particulars of an investment for which the return during the * financial year was less than $1. (5) Despite subsection (1), the entity need not give to the Commissioner a report, for a * financial year during which the total number of * Part VA investments in relation to which it was an * investment body is less than: (a) the number the Commissioner specifies by legislative instrument; or (b) otherwise—10. (5A) Paragraph (5)(b) does not apply to an * investment body that is a * managed investment trust. (6) Subsection (1) does not apply to an * investment body in relation to a * financial year for which the investment body has complied with an * arrangement in force between the investment body and the Commissioner relating to the reporting on * Part VA investments.

Amendment history: Inserted by No 2 of 2015, effective sch 2 (items 8 ‑ 20, 72, 73, 90 ‑ 99), sch 4 (items 75 ‑ 79): 25 Feb 2015 (s 2(1) items 3, 5, 6) sch 2 (items 66 ‑ 71): 1 July 2015 (s 2(1) item 4) | Amended by No 53 of 2016, effective sch 1 (items 2 ‑ 4), sch 3 (items 5 ‑ 23), sch 4 (items 6 ‑ 9), sch 5 (items 73 ‑ 75), sch 6 (items 35 ‑ 68), sch 8 (item 1): 5 May 2016 (s 2(1) items 2, 4) sch 7 (items 1, 2): 1 July 2014 (s 2(1) item 3)

s 393-15 — Errors in reports

(1) An entity must give to the Commissioner a corrected report if: (a) the entity has given a report to the Commissioner under this Division; and (b) after giving the report, the entity becomes aware of a material error in it. (2) The report must be in the * approved form. (3) The report must be given to the Commissioner no later than 28 days after the entity becomes aware of the error. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form.

Amendment history: Inserted by No 2 of 2015, effective sch 2 (items 8 ‑ 20, 72, 73, 90 ‑ 99), sch 4 (items 75 ‑ 79): 25 Feb 2015 (s 2(1) items 3, 5, 6) sch 2 (items 66 ‑ 71): 1 July 2015 (s 2(1) item 4)

s 394-1 — What this Division is about

A forestry manager of a forestry managed investment scheme must give the Commissioner information about initial contributions by participants in the scheme. The forestry manager must also inform the Commissioner if the trees are not established under the scheme within 18 months of the first investment in the scheme. Table of sections 394 ‑ 5 Statements about initial contributions to scheme 394 ‑ 10 Statements about failure to establish trees within 18 months

Amendment history: Inserted by No 79 of 2007, effective sch 8 (items 3, 26(1), (2)): 1 July 2007 sch 10 (items 1, 2, 14 ‑ 32): Royal Assent

s 394-5 — Statements about initial contributions to scheme

(1) The * forestry manager of a * forestry managed investment scheme must give the Commissioner a statement in relation to the scheme if: (a) the scheme satisfies the requirement in paragraph 394 ‑ 10(1)(c) of the Income Tax Assessment Act 1997 (the * 70% DFE rule); and (b) the forestry manager (or an * associate of the forestry manager) receives an amount under the scheme that is included in the forestry manager’s (or the associate’s) assessable income under section 15 ‑ 46 of that Act; and (c) that amount is the amount that is first paid under the scheme by a * participant in the scheme. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (2) A statement under subsection (1) must be in the * approved form. (3) The statement must be given to the Commissioner within 3 months after the end of the income year in which the * forestry manager (or the * associate) receives the amount. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. (4) The * approved form may require the statement to contain the following information: (a) the name of the scheme; (b) information relating to the identity of the * forestry manager (or the * associate); (c) information relating to the amounts paid or payable under the scheme by * participants in the scheme. (5) Subsection (4) does not limit the information that the * approved form may require the statement to contain.

Amendment history: Inserted by No 79 of 2007, effective sch 8 (items 3, 26(1), (2)): 1 July 2007 sch 10 (items 1, 2, 14 ‑ 32): Royal Assent

s 394-10 — Statements about failure to establish trees within 18 months

(1) If: (a) a * forestry managed investment scheme satisfies the requirement in paragraph 394 ‑ 10(1)(c) of the Income Tax Assessment Act 1997 (the * 70% DFE rule); and (b) the condition in subsection 394 ‑ 10(4) of that Act is not satisfied in relation to the scheme; the * forestry manager of the scheme must give the Commissioner a statement in relation to the reasons why that condition was not satisfied. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (2) A statement under subsection (1) must be in the * approved form. (3) The statement must be given to the Commissioner within 3 months after the end of the 18 months mentioned in subsection 394 ‑ 10(4) of the Income Tax Assessment Act 1997 . Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form. (4) The * approved form may require the statement to contain the following information: (a) the name of the scheme; (b) information relating to the identity of the * forestry manager; (c) information relating to the circumstances that gave rise to the condition not being satisfied. (5) Subsection (4) does not limit the information that the * approved form may require the statement to contain.

Amendment history: Inserted by No 79 of 2007, effective sch 8 (items 3, 26(1), (2)): 1 July 2007 sch 10 (items 1, 2, 14 ‑ 32): Royal Assent

s 396-1A — What this Division is about

This Division requires: (a) financial institutions to give to the Commissioner information for the purposes of the FATCA Agreement and the Common Reporting Standard; and (b) certain entities to give to the Commissioner information about transactions that could have tax consequences for other entities.

Amendment history: Inserted by No 162 of 2015, effective sch 4 (items 1, 10 ‑ 21, 25 ‑ 27): 30 Nov 2015 (s 2(1) items 3, 5, 6) sch 4 (items 22 ‑ 24): never commenced (s 2(1) item 4) | Repealed and substituted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 396-1 — What this Subdivision is about

This Subdivision gives effect to the FATCA Agreement between the Government of Australia and the Government of the United States of America. Reporting Australian Financial Institutions must give the Commissioner certain information about U.S. Reportable Accounts. For the 2015 and 2016 calendar years, they must also give the Commissioner information about payments made to Nonparticipating Financial Institutions. This Subdivision also creates record ‑ keeping obligations in relation to the requirements to give the Commissioner information. Table of sections Operative provisions 396 ‑ 5 Statements about U.S. Reportable Accounts 396 ‑ 10 Statements about payments to Nonparticipating Financial Institutions 396 ‑ 15 Meaning of the FATCA Agreement 396 ‑ 20 Permissions and elections 396 ‑ 25 Record keeping

Amendment history: Inserted by No 67 of 2014, effective sch 1 (items 2, 3): 30 June 2014 (s 2) | Amended by No 162 of 2015, effective sch 4 (items 1, 10 ‑ 21, 25 ‑ 27): 30 Nov 2015 (s 2(1) items 3, 5, 6) sch 4 (items 22 ‑ 24): never commenced (s 2(1) item 4)

s 396-5 — Statements about U.S. Reportable Accounts

(1) Subsection (2) applies if: (a) an entity is a Reporting Australian Financial Institution (within the meaning of the * FATCA Agreement) at any time in a calendar year; and (b) the entity maintains a U.S. Reportable Account (within the meaning of the FATCA Agreement) at any time in the year. (2) The entity must give the Commissioner a statement that contains the information in respect of that U.S. Reportable Account that the Australian Government is required to obtain in order for it to fulfil its obligations under the * FATCA Agreement in respect of that U.S. Reportable Account. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (3) The information contained in the statement must be determined by the entity by applying the due diligence procedures required under the * FATCA Agreement. Note: Those due diligence procedures are specified in Annex I to the FATCA Agreement, subject to the application of Article 7 of that Agreement (consistency in the application of FATCA to partner jurisdictions). (4) A statement under subsection (2) must be in the * approved form. (5) More than one statement under subsection (2) may be included in the same document. (6) The statement must be given to the Commissioner no later than the first 31 July after the end of the calendar year. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form.

Amendment history: Inserted by No 67 of 2014, effective sch 1 (items 2, 3): 30 June 2014 (s 2) | Amended by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 396-10 — Statements about payments to Nonparticipating Financial Institutions

(1) Subsection (2) applies if: (a) an entity is a Reporting Australian Financial Institution (within the meaning of the * FATCA Agreement) at any time in a calendar year; and (b) the calendar year is the 2015 or 2016 year; and (c) the entity makes a payment to a Nonparticipating Financial Institution (within the meaning of the FATCA Agreement) at any time in the year. (2) The entity must give the Commissioner a statement that contains the information in respect of that payment that the Australian Government is required to obtain in order for it to fulfil its obligations under the * FATCA Agreement in respect of that payment. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (3) The information contained in the statement must be determined by the entity by applying the due diligence procedures required under the * FATCA Agreement. Note: Those due diligence procedures are specified in Annex I to the FATCA Agreement, subject to the application of Article 7 of that Agreement (consistency in the application of FATCA to partner jurisdictions). (4) A statement under subsection (2) must be in the * approved form. (5) More than one statement under subsection (2) may be included in the same document. (6) The statement must be given to the Commissioner no later than the first 31 July after the end of the calendar year. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form.

Amendment history: Inserted by No 67 of 2014, effective sch 1 (items 2, 3): 30 June 2014 (s 2) | Amended by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 396-15 — Meaning of the FATCA Agreement

The FATCA Agreement is the Agreement between the Government of Australia and the Government of the United States of America to Improve International Tax Compliance and to Implement FATCA, done at Canberra on 28 April 2014. Note: The text of the Agreement is set out in Australian Treaty Series [2014] ATNIF 5. In 2014, the text of the Agreement in the Australian Treaty Series was accessible through the Australian Treaties Library on the AustLII website (www.austlii.edu.au).

Amendment history: Inserted by No 67 of 2014, effective sch 1 (items 2, 3): 30 June 2014 (s 2)

s 396-20 — Permissions and elections

(1) This section applies, for the purposes of this Subdivision: (a) in determining whether the conditions in subsections 396 ‑ 5(1) and 396 ‑ 10(1) are satisfied; and (b) in determining which information the Australian Government is required to obtain in order for it to fulfil its obligations under the * FATCA Agreement. (2) To the extent that the * FATCA Agreement gives Australia the ability to permit an entity to use or rely on matters provided for in U.S. Treasury Regulations in determining obligations under the FATCA Agreement, assume that the permission has been given. (3) To the extent that the * FATCA Agreement gives Australia the ability to provide for an entity to make an election in determining obligations under the FATCA Agreement, assume that the entity may make the election.

Amendment history: Inserted by No 67 of 2014, effective sch 1 (items 2, 3): 30 June 2014 (s 2) | Amended by No 162 of 2015, effective sch 4 (items 1, 10 ‑ 21, 25 ‑ 27): 30 Nov 2015 (s 2(1) items 3, 5, 6) sch 4 (items 22 ‑ 24): never commenced (s 2(1) item 4)

s 396-25 — Record keeping

(1) If an entity is obliged to give the Commissioner a statement under subsection 396 ‑ 5(2) or 396 ‑ 10(2), the entity must keep written records that: (a) correctly record the procedures by which the entity determines the information that is required to be contained in the statement; and (b) are in English, or readily accessible and easily convertible into English. (2) The entity must retain the records until the expiration of 5 years after the entity gives the Commissioner the statement under subsection 396 ‑ 5(2) or 396 ‑ 10(2). Note: Section 288 ‑ 25 imposes an administrative penalty if an entity does not keep and retain records as required by this section.

Amendment history: Inserted by No 67 of 2014, effective sch 1 (items 2, 3): 30 June 2014 (s 2)

s 396-50 — What this Subdivision is about

The Commissioner can require certain entities to give information about transactions that could reasonably be expected to have tax consequences for other entities. Table of sections Operative provisions 396 ‑ 55 Reporting tax ‑ related information about transactions to the Commissioner 396 ‑ 60 Information required 396 ‑ 65 Exemptions—wholesale clients 396 ‑ 70 Exemptions—other cases 396 ‑ 75 Errors in reports

Amendment history: Inserted by No 162 of 2015, effective sch 4 (items 1, 10 ‑ 21, 25 ‑ 27): 30 Nov 2015 (s 2(1) items 3, 5, 6) sch 4 (items 22 ‑ 24): never commenced (s 2(1) item 4)

s 396-55 — Reporting tax ‑ related information about transactions to the Commissioner

An entity mentioned in column 1 of an item of this table must: (a) prepare a report in the * approved form setting out information about any transactions described in that item that happened during this period: (i) a * financial year; or (ii) such other period as the Commissioner specifies by legislative instrument for that item; and (b) give the report to the Commissioner on or before: (i) the 31st day after the end of that period; or (ii) such other time after the end of that period as the Commissioner specifies by legislative instrument for that item; unless section 396 ‑ 65, or a notice or determination under section 396 ‑ 70, provides that the entity is not required to do so. Information to be reported by third parties about transactions Column 1 Column 2 Item This entity: must report information about this transaction: 1 a government related entity (within the meaning of the * GST Act), other than a * local governing body the provision of a grant by the entity to an entity that has an * ABN 2 a government related entity (within the meaning of the * GST Act) the provision of consideration (within the meaning of the * GST Act): (a) by the entity to an entity; and (b) wholly or partly for a * supply of services; unless the supply of services is merely incidental to a supply of goods (within the meaning of the GST Act) 3 a State or Territory the transfer of a freehold or leasehold interest in real property situated in the State or Territory 4 * ASIC a transaction about which data has been delivered to * ASIC under the * market integrity rules 5 a participant (within the meaning of the Corporations Act 2001 ) in an * Australian financial market a transaction, involving the participant, that: (a) results in a change to the type, name or number of * shares in a company, or units in a unit trust, that are held by another entity; and (b) is a transaction about which data is required to be delivered to * ASIC under the * market integrity rules 6 a company whose * shares are listed for quotation in the official list of an * Australian financial market a transaction that: (a) results in a change to the type, name or number of * shares in the company that are held by an entity; and (b) is not a transaction about which data is required to be delivered to * ASIC under the * market integrity rules 7 the trustee of a unit trust a transaction that: (a) results in a change to the type, name or number of units in the unit trust that are held by an entity; and (b) is not a transaction about which data is required to be delivered to * ASIC under the * market integrity rules 8 the trustee of a trust (other than a unit trust) a transaction that results in a change to the type, name or number of any * shares in a company, or units in a unit trust: (a) that are held as assets of the trust; and (b) to which one or more entities are absolutely entitled as beneficiaries of the trust; unless the trustee gives the Commissioner an * income tax return for the income year in which the transaction was entered into 9 an administrator of a payment system (within the meaning of the Payment Systems (Regulation) Act 1998 ) a transaction involving an electronic payment if: (a) the transaction is facilitated by the payment system on behalf of an entity; and (b) the administrator reasonably believes that the transaction: (i) provides a payment to the entity, or provides a refund or cash to a customer of the entity; and (ii) is for the purposes of a * business carried on by the entity 9A an * eligible community housing provider the issuing by the provider of a certificate under section 980 ‑ 15 of the Income Tax Assessment Act 1997 10 a company the issuing by the company of a * share that could give rise to an entitlement to a * tax offset (or a modified CGT treatment) under Subdivision 360 ‑ A of the Income Tax Assessment Act 1997 11 an entity that makes a * supply of a cleaning service and has an * ABN the provision of consideration (within the meaning of the * GST Act) by the entity to another entity wholly or partly for the * supply by the other entity of a cleaning service, unless: (a) the entities are * members of the same * consolidated group or * MEC group; or (b) Division 12 requires that an amount be withheld from the payment of the consideration 12 an entity that makes a * supply of a courier service or a road freight service and has an * ABN the provision of consideration (within the meaning of the * GST Act) by the entity to another entity wholly or partly for the * supply by the other entity of a courier service or a road freight service, unless: (a) the entities are * members of the same * consolidated group or * MEC group; or (b) Division 12 requires that an amount be withheld from the payment of the consideration 13 an entity that makes a * supply of a security, investigation or surveillance service and has an * ABN the provision of consideration (within the meaning of the * GST Act) by the entity to another entity wholly or partly for the * supply by the other entity of a security, investigation or surveillance service, unless: (a) the entities are * members of the same * consolidated group or * MEC group; or (b) Division 12 requires that an amount be withheld from the payment of the consideration 14 an entity that makes a * supply of an information technology service and has an * ABN the provision of consideration (within the meaning of the * GST Act) by the entity to another entity wholly or partly for the * supply by the other entity of an information technology service, unless: (a) the entities are * members of the same * consolidated group or * MEC group; or (b) Division 12 requires that an amount be withheld from the payment of the consideration 15 an operator of an electronic distribution platform (within the meaning of the * GST Act, but disregarding paragraph 84 ‑ 70(1)(c) of that Act) the provision of consideration (within the meaning of the GST Act) by an entity to another entity (the supplier ) wholly or partly for a * supply made by the supplier through the electronic distribution platform, if: (a) the supply is connected with the indirect tax zone (within the meaning of the GST Act), or would be connected with the indirect tax zone (within the meaning of the GST Act) if the definition of indirect tax zone in the GST Act included the external Territories; and (b) no amount is required by Division 12 to be withheld from the payment of the consideration; and (c) the operator and the supplier are not * members of the same * consolidated group or * MEC group; and (d) the supply is not any of the following: (i) a supply by way of transfer of ownership of goods (within the meaning of the GST Act); (ii) a supply by way of transfer of ownership of real property (within the meaning of the GST Act); (iii) a financial supply (within the meaning of the GST Act) Note: An administrative penalty applies to a failure to give the report by that time (see subsection 286 ‑ 75(1)). An administrative penalty applies for any false statements in the report (see section 284 ‑ 75).

Amendment history: Inserted by No 162 of 2015, effective sch 4 (items 1, 10 ‑ 21, 25 ‑ 27): 30 Nov 2015 (s 2(1) items 3, 5, 6) sch 4 (items 22 ‑ 24): never commenced (s 2(1) item 4) | Amended by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 121 of 2018, effective sch 1 (items 2 ‑ 4), sch 2: 4 Oct 2018 (s 2(1) item 1) | Amended by No 141 of 2018, effective sch 2, sch 3 (items 9, 10): 1 Jan 2019 (s 2(1) items 3, 4) | Amended by No 34 of 2019, effective sch 1 (items 6 ‑ 11, 16), sch 5 (items 3 ‑ 5): 1 July 2019 (s 2(1) items 2, 3) | Amended by No 84 of 2022, effective sch 1 (items 1 ‑ 15, 17 ‑ 20), sch 2: 1 Jan 2023 (s 2(1) item 2) sch 4: 13 Dec 2022 (s 2(1) item 3) | Amended by No 69 of 2023, effective sch 1 (item 143): 1 Jan 2024 (s 2(1) item 3) sch 2 (item 160): 15 Sept 2023 (s 2(1) item 4)

s 396-60 — Information required

Transactions not involving market participants (1) For the purposes of section 396 ‑ 55, the information required by the * approved form about a transaction (other than a transaction described in table item 5 in that section): (a) must relate to: (i) the identification, collection or recovery of a possible * tax ‑ related liability; or (ii) the identification of a possible reduction of a possible tax ‑ related liability; of a party to the transaction (disregarding any exemption under a * taxation law that may apply to those parties); and (b) may relate to identifying the parties to the transaction; and (c) for a transaction described in table item 3 in that section—may include the * tax file numbers of those parties to the transaction who have quoted their tax file numbers to the State or Territory concerned. Transactions involving market participants (2) For the purposes of section 396 ‑ 55, the information required by the * approved form about a transaction described in table item 5 in that section must relate to identifying the parties to the transaction. Some reporting entities may request tax file numbers (3) A State or Territory may request an entity to quote the entity’s * tax file number to the State or Territory if: (a) the tax file number is for a report by the State or Territory under section 396 ‑ 55 about a transaction described in table item 3 in that section; and (b) the entity is a party to the transaction.

Amendment history: Inserted by No 162 of 2015, effective sch 4 (items 1, 10 ‑ 21, 25 ‑ 27): 30 Nov 2015 (s 2(1) items 3, 5, 6) sch 4 (items 22 ‑ 24): never commenced (s 2(1) item 4) | Amended by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6)

s 396-65 — Exemptions—wholesale clients

(1) An entity is not required to include, in a report under section 396 ‑ 55, information about a transaction described in table item 5, 6 or 7 in that section to the extent that the information relates to a party to the transaction: (a) who is not an individual; and (b) who, under the transaction, is being provided with: (i) a financial product (within the meaning of Division 3 of Part 7.1 of the Corporations Act 2001 ); or (ii) a financial service (within the meaning of that Act); as a wholesale client (within the meaning of that Act). Note: This exemption does not apply to information relating to any other party to the transaction, such as the party providing the product or service. (2) An entity is not required to include, in a report under section 396 ‑ 55, information about a transaction described in table item 8 in that section to the extent that the information relates to a beneficiary mentioned in that item: (a) who is not an individual; and (b) who, under the transaction, is being provided with: (i) a financial product (within the meaning of Division 3 of Part 7.1 of the Corporations Act 2001 ); or (ii) a financial service (within the meaning of that Act); as a wholesale client (within the meaning of that Act). Note: This exemption does not apply to information relating to any other party to the transaction, such as the party providing the product or service.

Amendment history: Inserted by No 162 of 2015, effective sch 4 (items 1, 10 ‑ 21, 25 ‑ 27): 30 Nov 2015 (s 2(1) items 3, 5, 6) sch 4 (items 22 ‑ 24): never commenced (s 2(1) item 4) | Repealed and substituted by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 76 of 2023, effective sch 2 (items 727–737): 20 Oct 2023 (s 2(1) item 2) sch 6 (items 39, 40): 21 Sept 2023 (s 2(1) item 22) sch 6 (items 43, 44): 1 Oct 2023 (s 2(1) item 23)

s 396-70 — Exemptions—other cases

Exemptions for particular entities (1) The Commissioner may, in writing, notify an entity that it: (a) is not required to prepare and give reports under section 396 ‑ 55; or (b) is not required to do so for specified classes of transactions. (2) An entity dissatisfied with a decision to: (a) give it a notice under subsection (1); or (b) not give it a notice under subsection (1); may object against the decision in the manner set out in Part IVC. (3) A notice under subsection (1) is not a legislative instrument. General exemptions (4) The Commissioner may, by legislative instrument, determine that specified classes of entities: (a) are not required to prepare and give reports under section 396 ‑ 55; or (b) are not required to do so for specified classes of transactions.

Amendment history: Inserted by No 162 of 2015, effective sch 4 (items 1, 10 ‑ 21, 25 ‑ 27): 30 Nov 2015 (s 2(1) items 3, 5, 6) sch 4 (items 22 ‑ 24): never commenced (s 2(1) item 4)

s 396-75 — Errors in reports

(1) An entity must give to the Commissioner a corrected report if: (a) the entity has given a report to the Commissioner under this Subdivision; and (b) after giving the report, the entity becomes aware of a material error in it. (2) The report must be in the * approved form. (3) The report must be given to the Commissioner no later than 28 days after the entity becomes aware of the error. Note 1: An administrative penalty applies to a failure to give the report by that time (see subsection 286 ‑ 75(1)). An administrative penalty applies for any false statements in the report (see section 284 ‑ 75). Note 2: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form.

Amendment history: Inserted by No 162 of 2015, effective sch 4 (items 1, 10 ‑ 21, 25 ‑ 27): 30 Nov 2015 (s 2(1) items 3, 5, 6) sch 4 (items 22 ‑ 24): never commenced (s 2(1) item 4)

s 396-100 — What this Subdivision is about

Australian Financial Institutions must give the Commissioner certain information about accounts of foreign residents. This obligation is based on the Common Reporting Standard. Note 1: This obligation will assist the Australian Government to exchange information with other jurisdictions in accordance with international agreements, such as the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, done at Strasbourg on 25 January 1988. In 2015, the text of the Convention was available on the OECD’s website (http://www.oecd.org). Note 2: The purpose of the Common Reporting Standard is to reduce international tax evasion. It sets out due diligence procedures for financial institutions to apply to identify account holders that are foreign tax residents, and provides for financial institutions to report information with respect to such account holders. This Subdivision also creates record ‑ keeping obligations in relation to the requirement to give the Commissioner information. This Subdivision also requires the Commissioner to report on certain Reportable Accounts that are maintained by Australian Reporting Financial Institutions. Table of sections Operative provisions 396 ‑ 105 Statements about Reportable Accounts 396 ‑ 110 Meaning of CRS 396 ‑ 115 Matters Common Reporting Standard leaves to domestic law 396 ‑ 120 Application of Common Reporting Standard 396 ‑ 125 Record keeping 396 ‑ 130 Anti ‑ avoidance provisions 396 ‑ 135 Application of penalty to false or misleading self ‑ certification 396 ‑ 136 Report on Reportable Accounts maintained by Australian Reporting Financial Institutions

Amendment history: Inserted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 396-105 — Statements about Reportable Accounts

(1) Subsection (2) applies if: (a) at any time in a calendar year, an entity: (i) is a Reporting Financial Institution (within the meaning of the * CRS); or (ii) is an institution that a notice under subsection 396 ‑ 130(5) requires to act as a Reporting Financial Institution; and (b) at that time in the year, the entity: (i) is resident in Australia (within the meaning of the CRS); or (ii) is a branch located in Australia (within the meaning of the CRS); and (c) at any time in the year, the entity maintains: (i) a Reportable Account (within the meaning of the CRS); or (ii) an account that a notice under subsection 396 ‑ 130(2) requires the entity to treat as a Reportable Account. Note: Subsection 396 ‑ 120(3) applies the CRS to all jurisdictions. (2) The entity must give the Commissioner a statement that contains in respect of the account the information that the * CRS states the entity must report. Note: Section 286 ‑ 75 provides an administrative penalty for breach of this subsection. (3) Whether an entity maintains a Reportable Account (within the meaning of the * CRS) must be determined by the entity by applying the due diligence procedures described in the CRS. Note: Section 288 ‑ 85 provides an administrative penalty for failing to obtain a self ‑ certification in relation to the account when applying the due diligence procedures. (4) A statement under subsection (2) must be in the * approved form. (5) More than one statement under subsection (2) may be included in the same document. (6) The statement must be given to the Commissioner no later than the first 31 July after the end of the calendar year. Note: Section 388 ‑ 55 allows the Commissioner to defer the time for giving an approved form.

Amendment history: Inserted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 396-110 — Meaning of CRS

(1) The CRS is the Common Reporting Standard set out in Part II.B of the Standard for Automatic Exchange of Financial Account Information in Tax Matters approved by the Council of the Organisation for Economic Co ‑ Operation and Development on 15 July 2014. Note: In 2015, the text of the Standard was available on the OECD’s website (http://www.oecd.org). (2) Subject to section 396 ‑ 120, for the purposes of this Subdivision, the * CRS must be applied consistently with Part III.B (the CRS Commentary ) of the Standard for Automatic Exchange of Financial Account Information in Tax Matters.

Amendment history: Inserted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 396-115 — Matters Common Reporting Standard leaves to domestic law

Defined terms (1) For the purposes of subparagraph B(1)(c) of Section VIII of the * CRS, the following Entities (within the meaning of the CRS) are defined as Non ‑ Reporting Financial Institutions: (a) an Entity (other than a * self managed superannuation fund or a * small superannuation fund) to which any of the following paragraphs of Annex II of the * FATCA Agreement applies: (i) paragraph A (government entity), B (international organisation) or C (central bank) of section I; (ii) paragraph A (retirement fund) of section II; (b) an Entity the Minister prescribes by legislative instrument. (2) Subparagraph (1)(a)(i) does not apply with respect to a payment that is derived from an obligation held in connection with a commercial financial activity of a type engaged in by a Specified Insurance Company, Custodial Institution, or Depository Institution (within the meaning of the * CRS). (3) For the purposes of subparagraph C(17)(g) of Section VIII of the * CRS, the following accounts are defined as Excluded Accounts: (a) an account to which any of the following subparagraphs of paragraph A of section V of Annex II of the * FATCA Agreement applies: (i) subparagraph (1) (retirement and pension accounts); (ii) subparagraph (3) (certain other tax ‑ favoured accounts); (aa) a * self managed superannuation fund account; (ab) a * small superannuation fund account; (b) an account the Minister prescribes by legislative instrument. Elections by entities (4) To the extent that the * CRS gives Australia the ability to provide for an entity to make an election in determining obligations under the CRS, assume that the entity may make the election. Modifications mentioned in CRS Commentary (5) The * CRS has effect with the following modifications mentioned in the * CRS Commentary: (a) the inclusion mentioned in paragraph 13 of the Commentary on Section VII concerning Special Due Diligence Requirements; (b) the 2 replacements mentioned in paragraph 82 of the Commentary on Section VIII concerning Defined Terms.

Amendment history: Inserted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5) | Amended by No 141 of 2020, effective sch 4 (items 76 ‑ 80): 18 Dec 2020 (s 2(1) item 6) sch 4 (item 142): 1 July 2024 sch 4 (items 143, 144): 4 Apr 2021 (s 2(1) item 15)

s 396-120 — Application of Common Reporting Standard

Scope of this section (1) This section applies: (a) for the purposes of section 288 ‑ 85 (Failure by Reporting Financial Institution to obtain self ‑ certification); and (b) for the purposes of this Subdivision: (i) in determining whether the conditions in subsection 396 ‑ 105(1) are satisfied; and (ii) in determining which information the * CRS states a Reporting Financial Institution must report. General reporting requirements (2) Paragraph F of Section I of the * CRS is to be disregarded. Reportable and Participating Jurisdictions (3) All jurisdictions (other than Australia) are to be treated as Reportable Jurisdictions. (4) Without limiting subparagraph D(5) of Section VIII of the * CRS, Australia is to be treated as a Participating Jurisdiction. Accounts (5) Without limiting subparagraph D(1) of Section VIII of the * CRS, an account maintained by a Reporting Financial Institution for an entity is treated as being a Reportable Account (within the meaning of the CRS) if: (a) the Reporting Financial Institution does not apply the due diligence procedures described in the CRS in relation to the account; and (b) the CRS does not state that the account is not required to be identified; and (c) the account would be such a Reportable Account if the Reporting Financial Institution applied those procedures. (6) The date provided for in subparagraph C(9) of Section VIII of the * CRS (about Preexisting Accounts) (as affected by paragraph 396 ‑ 115(5)(b) in this Schedule) is taken to be 30 June 2017. (7) A reference in the * CRS to a New Account is treated as being a reference to a Financial Account maintained by a Reporting Financial Institution that is not a Preexisting Account. Dollar amounts (8) An entity may choose to treat all dollar amounts in the * CRS as being in Australian dollars. Note: Otherwise, all dollar amounts are in United States dollars: see subparagraph C(4) of Section VII of the CRS.

Amendment history: Inserted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 396-125 — Record keeping

(1) If paragraph 396 ‑ 105(1)(a) applies to an entity for a calendar year, the entity must keep written records that: (a) correctly record the procedures by which the entity determines: (i) whether, at any time during the year, the entity maintains an account to which paragraph 396 ‑ 105(1)(c) applies; and (ii) the information that is required to be contained in the statement (if any) the entity is obliged to give the Commissioner under subsection 396 ‑ 105(2); and (b) are in English, or readily accessible and easily convertible into English. (2) The entity must retain the records, to the extent that they relate to a particular account, until: (a) the expiration of 5 years after the entity gives the Commissioner the statement in respect of the account under subsection 396 ‑ 105(2); or (b) if the entity is not required to give the Commissioner a statement in respect of the account for the year—31 July in the sixth year after the end of the year. Note: Section 288 ‑ 25 imposes an administrative penalty if an entity does not keep and retain records as required by this section.

Amendment history: Inserted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 396-130 — Anti ‑ avoidance provisions

Commissioner may require an account to be treated as a Reportable Account (1) The Commissioner may require an entity that: (a) is a Reporting Financial Institution (within the meaning of the * CRS); or (b) is a Financial Institution that a notice under subsection (5) requires to act as a Reporting Financial Institution; to treat an account the institution maintains or has maintained as if it is a Reportable Account (within the meaning of the CRS), if the Commissioner reasonably believes that: (c) the account would not be, or would not have been, such a Reportable Account if the Commissioner had not made such a requirement; and (d) one or more of the following: (ia) the Reporting Financial Institution; (ib) the Account Holder (within the meaning of the CRS); (ic) an intermediary of the Reporting Financial Institution or the Account Holder; (id) any other entity; undertook a transaction, or entered into an * arrangement: (i) for the purpose of causing the account not to be such a Reportable Account; or (ii) for 2 or more purposes of which that purpose is the dominant purpose. (2) The Commissioner must give written notice of the requirement to the Reporting Financial Institution. (3) The Reporting Financial Institution may object, in the manner set out in Part IVC, against the Commissioner’s decision to give the notice. Commissioner may require a Financial Institution to act as a Reporting Financial Institution (4) The Commissioner may require an entity that is a Financial Institution (within the meaning of the * CRS) to act as if it is a Reporting Financial Institution (within the meaning of the CRS), if the Commissioner reasonably believes that: (a) the institution would not be, or would not have been, such a Reporting Financial Institution if the Commissioner had not made such a requirement; and (b) the Financial Institution undertook a transaction, or entered into an * arrangement: (i) for the purpose of causing the institution not to be such a Reporting Financial Institution; or (ii) for 2 or more purposes of which that purpose is the dominant purpose. (5) The Commissioner must give written notice of the requirement to the institution. (6) The institution may object, in the manner set out in Part IVC, against the Commissioner’s decision to give the notice.

Amendment history: Inserted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5) | Amended by No 141 of 2020, effective sch 4 (items 76 ‑ 80): 18 Dec 2020 (s 2(1) item 6) sch 4 (item 142): 1 July 2024 sch 4 (items 143, 144): 4 Apr 2021 (s 2(1) item 15)

s 396-135 — Application of penalty to false or misleading self ‑ certification

For the purposes of applying Part 4 ‑ 25 (Charge and penalties) in relation to a statement that is, or that relates to, a self ‑ certification (within the meaning of the * CRS) that a Reporting Financial Institution is required to obtain when applying, under subsection 396 ‑ 105(3), the due diligence procedures described in the CRS: (a) the CRS is treated as permitting the self ‑ certification; and (b) the CRS is treated as being a * taxation law (but not an * Excise Act). Note: You are liable to an administrative penalty under subsection 284 ‑ 75(4) if you give a self ‑ certification that is false or misleading in a material particular.

Amendment history: Inserted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 396-136 — Report on Reportable Accounts maintained by Australian Reporting Financial Institutions

(1) This section applies if: (a) the Commissioner receives one or more statements under subsection 396 ‑ 105(2) in relation to: (i) the 2018 calendar year; or (ii) a calendar year commencing after 2018; and (b) the statement contains information about a Reportable Account (within the meaning of the CRS); and (c) the total number of accounts of the kind mentioned in paragraph (b) for a jurisdiction (other than Australia) that is a Reportable Jurisdiction (within the meaning of the CRS) (the relevant jurisdiction ) for the calendar year is 6 or more. (2) The Commissioner must, no later than 31 December of the year following the calendar year, prepare and give to the Minister a report that sets out for each relevant jurisdiction in relation to the calendar year the following information: (a) the total number of accounts of the kind mentioned in paragraph (1)(b); (b) the sum of the amounts in those accounts. (3) The Minister must cause a copy of the report given under subsection (2) to be tabled in each House of the Parliament within 15 sitting days of that House after the day on which the Minister receives the report. (4) The report given under subsection (2) is not a legislative instrument.

Amendment history: Inserted by No 23 of 2016, effective sch 1 (items 2, 8 ‑ 11, 13 ‑ 15, 19): 19 Mar 2016 (s 2(1) items 2, 4, 6, 8) sch 1 (items 3 ‑ 7, 12): never commenced (s 2(1) items 3, 5)

s 398-1 — What this Division is about

This Division contains reporting obligations not covered by other Divisions of this Part.

Amendment history: Inserted by No 79 of 2010, effective sch 1 (items 6 ‑ 10, 36 ‑ 53, 57 ‑ 66), sch 4 (items 7, 47 ‑ 49, 51): 1 July 2010

s 398-5 — Reporting to Agriculture Department

FMD provider must provide monthly information (1) An * FMD provider must, before the 11th day after the end of a calendar month, give in writing to the * Agriculture Secretary the information specified in subsection (3) if the provider holds a * farm management deposit at the end of that month. Penalty: 10 penalty units. (2) An offence under subsection (1) is an offence of strict liability. Note: For strict liability, see section 6.1 of the Criminal Code . Information required (3) The information is: (a) the number of * farm management deposits held at the end of that month; and (b) the number of depositors in respect of such deposits at the end of that month; and (c) the sum of the balances of such deposits at the end of that month; and (d) any other information, in relation to farm management deposits held by the * FMD provider at any time in that month, that is required by the regulations for the purposes of this section. Regulations not to require identity of depositor (4) Regulations made for the purposes of paragraph (3)(d) must not require information: (a) that discloses the identity of a depositor; or (b) from which the identity of a depositor could reasonably be inferred.

Amendment history: Inserted by No 79 of 2010, effective sch 1 (items 6 ‑ 10, 36 ‑ 53, 57 ‑ 66), sch 4 (items 7, 47 ‑ 49, 51): 1 July 2010 | Amended by No 147 of 2011, effective sch 3, sch 5 (items 10 ‑ 16), sch 8 (item 43): Royal Assent sch 8 (items 10 ‑ 35, 37, 39, 40): 1 Jan 2012 sch 8 (item 36): 1 July 2012

s 400-1 — What Part 5 ‑ 30 is about

To improve compliance with the tax laws that relate to payments for certain supplies, this Part imposes additional requirements on purchasers and suppliers. The additional requirements relate to verification of ABNs and to reporting information about payments. Regulations will specify the supplies that are covered and the additional requirements that apply to payments for those supplies.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 400-5 — The payment, ABN and identification verification system

(1) There are 4 components in the payment, ABN and identification verification system: (a) transaction reporting by purchasers (Division 405); (b) transaction reporting by suppliers (Division 410); (c) verification of suppliers’ * ABNs by purchasers (Division 415); (d) verification of suppliers’ identities by purchasers (Division 417); One or more of the components may apply to a particular payment. The regulations will specify which components apply. (2) Where a component of the system applies to a payment, the requirements of that component must be complied with.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 405-5 — Payments to which this Division applies

(1) This Division applies to any payments made, or liable to be made, for a * supply where the supply is specified in regulations made for the purpose of this section. (2) A payment is liable to be made if the obligation to make the payment is notified in an * invoice. (3) Payments to which this Division applies are called Division 405 payments . (4) Without limiting the ways in which the regulations may specify a * supply, the regulations may specify a supply by reference to: (a) the goods or services supplied; or (b) the supplier; or (c) the purchaser.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 405-10 — Reporting requirements

(1) Any entity (the purchaser ) that makes, or is liable to make, a * Division 405 payment during a * quarter must give a * Division 405 report to the Commissioner within 21 days after the end of the quarter. (2) A Division 405 report is a written statement in the * approved form that names the purchaser and, for each supplier in relation to whom the purchaser made, or was liable to make, a * Division 405 payment during the * quarter: (a) names the supplier; and (b) specifies the supplier’s * ABN (if known by the purchaser); and (c) specifies the total of the Division 405 payments that the purchaser made, or was liable to make, to the supplier during the quarter that: (i) were notified in an invoice during the quarter (unless the payment was reported in an earlier Division 405 report); or (ii) were made during the quarter but for which no invoice had been received before the end of the quarter. The report must also include any other information that the Commissioner requires. (3) The Commissioner may, in writing, require particular information to be included in a * Division 405 report or a class of Division 405 reports. (4) The Commissioner may, by written notice, vary any requirements under subsection (1), (2) or (3) in relation to a purchaser or class of purchaser. The Commissioner may do so in such instances and to such extent as the Commissioner thinks fit.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 405-15 — Invoices produced by purchasers

If a purchaser produces an * invoice that notifies the purchaser’s obligation to make a payment, the purchaser is taken to have been notified of the payment at the time that the invoice is produced.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 410-5 — Payments to which this Division applies

(1) This Division applies to any payments received, or entitled to be received, for a * supply where the supply is specified in regulations made for the purpose of this section. (2) A payment is entitled to be received if the obligation to make the payment is notified in an * invoice. (3) Payments to which this Division applies are called Division 410 payments . (4) Without limiting the ways in which the regulations may specify a * supply, the regulations may specify a supply by reference to: (a) the goods or services supplied; or (b) the supplier; or (c) the purchaser.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 410-10 — Reporting requirements

(1) Any entity (the supplier ) that receives, or is entitled to receive, a * Division 410 payment during a * quarter must give a * Division 410 report to the Commissioner within 21 days after the end of the quarter. (2) A Division 410 report is a written statement in the * approved form that names the supplier and, for each purchaser in relation to whom the supplier received, or was entitled to receive, a * Division 410 payment during the * quarter: (a) names the purchaser; and (b) specifies the purchaser’s * ABN (if known by the supplier); and (c) specifies the total of the Division 410 payments that the supplier received, or was entitled to receive, from the purchaser during the quarter that: (i) were notified in an invoice during the quarter (unless the payment was reported in an earlier Division 410 report); or (ii) were received during the quarter but for which no invoice had been provided before the end of the quarter. The report must also include any other information that the Commissioner requires. (3) The Commissioner may, in writing, require particular information to be included in a * Division 410 report or a class of Division 410 reports. (4) The Commissioner may, by written notice, vary any requirements under subsection (1), (2) or (3) in relation to a supplier or class of supplier. The Commissioner may do so in such instances and to such extent as the Commissioner thinks fit.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 410-15 — Invoices produced by purchasers

If a purchaser produces an * invoice that notifies the purchaser’s obligation to make a payment, the supplier is taken to have notified the purchaser of the payment at the time that the invoice is produced.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 415-5 — Payments to which this Division applies

(1) This Division applies if: (a) a payment is made, or is liable to be made, by an entity (the purchaser ) to another entity (the supplier ) for a * supply; and (b) the supply is specified in regulations made for the purpose of this section; and (c) the supplier has purported to * quote his or her * ABN to the purchaser. (2) Payments to which this Division applies are called Division 415 payments . (3) Without limiting the ways in which the regulations may specify a * supply, the regulations may specify a supply by reference to: (a) the goods or services supplied; or (b) the supplier; or (c) the purchaser.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 415-10 — ABN verification requirements

Before the purchaser makes a * Division 415 payment to the supplier, the purchaser must obtain verification that the * ABN * quoted by the supplier is the ABN entered in the * Australian Business Register with the name given by the supplier. Note: If the purchaser has reasonable grounds to believe that the supplier has not correctly quoted his or her ABN, the purchaser is required to withhold an amount under section 12 ‑ 190.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 415-15 — Method of obtaining ABN verification

(1) To obtain verification of a supplier’s * ABN, a purchaser must seek the verification in a manner approved in writing by the Commissioner. (2) Without limiting the Commissioner’s power under subsection (1), the Commissioner may approve verifications being sought orally or by way of electronic transmission. (3) Verification of an * ABN may be obtained in such form, including orally or by way of electronic transmission, as the Commissioner approves in writing. (4) The Commissioner may, by written notice, vary any requirements under subsection (1) in relation to: (a) a purchaser or class of purchaser; or (b) a supplier or class of supplier. The Commissioner may do so in such instances and to such extent as the Commissioner thinks fit.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 415-20 — Verification applies to later payments

(1) Verification of a supplier’s ABN applies to all later * Division 415 payments by the purchaser to the supplier unless there is a period of 2 years during which no * Division 415 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. (2) However, verification of a supplier’s * ABN does not apply to a * Division 415 payment if the purchaser has reasonable grounds to believe that the * ABN * quoted by the supplier is no longer the ABN entered in the * Australian Business Register with the name given by the supplier.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 417-5 — Payments to which this Division applies

(1) This Division applies if: (a) a payment is made, or liable to be made, by an entity (the purchaser ) to another entity (the supplier ) for a * supply; and (b) the supply is specified in regulations made for the purpose of this section. (2) Payments to which this Division applies are called Division 417 payments . (3) Without limiting the ways in which the regulations may specify a * supply, the regulations may specify a supply by reference to: (a) the goods or services supplied; or (b) the supplier; or (c) the purchaser.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 417-10 — Identity verification requirements

Before the purchaser makes a * Division 417 payment, the purchaser must obtain verification of the supplier’s identity. Note: If the purchaser has reasonable grounds to believe that the supplier has not correctly quoted his or her ABN, the purchaser is required to withhold an amount under section 12 ‑ 190.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 417-15 — Method of obtaining identity verification

(1) To obtain verification of a supplier’s identity, a purchaser must carry out the identity verification procedure that is determined, in writing, by the Commissioner. (2) The Commissioner may determine different identity verification procedures for: (a) different purchasers or classes of purchasers; or (b) different suppliers or classes of suppliers.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 417-20 — Verification applies to later payments

(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. (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.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 420-5 — Failing to report or verify: administrative penalty

An entity that fails to: (a) give a * Division 405 report to the Commissioner as required by section 405 ‑ 10; or (b) give a * Division 410 report to the Commissioner as required by section 410 ‑ 10; or (c) verify a supplier’s * ABN as required by section 415 ‑ 10; or (d) verify a supplier’s identity as required by section 417 ‑ 10; is liable to pay to the Commissioner a penalty of 20 penalty units. Note 1: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. Note 2: Division 298 contains machinery provisions for administrative and civil penalties.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4)) | Amended by No 32 of 2006, effective 6 Apr 2006

s 425-20 — Constructive payment

(1) In working out whether an entity has paid an amount to another entity, and when the payment is made, the amount is taken to have been paid to the other entity when the first entity applies or deals with the amount in any way on the other’s behalf or as the other directs. (2) An amount is taken to be payable by an entity to another entity if the first entity is required to apply or deal with it in any way on the other’s behalf or as the other directs.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 425-25 — Non ‑ cash benefits

For the purposes of this Part, if an entity (the payer ) provides a * non ‑ cash benefit to another entity (the recipient ), the payer is taken to have made a payment of an amount equal to the * market value of the benefit provided.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 426-1 — What this Division is about

This Division sets out procedural rules relating to endorsement of charities and other entities (the conditions for entitlement to endorsement are set out in the GST Act, the Fringe Benefits Tax Assessment Act 1986 , and the Income Tax Assessment Act 1997 ). These rules cover matters such as application for and revocation of endorsement, and entry of the details of endorsement on the Australian Business Register. Subdivision 426 ‑ D deals with types of philanthropic trust funds known as public ancillary funds , private ancillary funds and community charity trusts . Subdivision 426 ‑ E deals with certain philanthropic companies known as community charity corporations .

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8) | Amended by No 88 of 2009, effective sch 2 (items 16 ‑ 22, 25 ‑ 31): 1 Oct 2009 sch 2 (item 24): 1 Jan 2010 sch 5 (items 233 ‑ 236, 239 ‑ 243, 246 ‑ 257): Royal Assent | Amended by No 147 of 2011, effective sch 3, sch 5 (items 10 ‑ 16), sch 8 (item 43): Royal Assent sch 8 (items 10 ‑ 35, 37, 39, 40): 1 Jan 2012 sch 8 (item 36): 1 July 2012 | Amended by No 12 of 2012, effective sch 6 (items 27 ‑ 29): 22 Dec 1999 (s 2(1) item 11) sch 6 (items 84 ‑ 93, 186, 187, 191, 192, 212, 213, 218, 241 ‑ 246, 248 ‑ 251): 21 Mar 2012 (s 2(1) items 14, 31) sch 6 (item 182): 3 Oct 2008 (s 2(1) item 30) | Amended by No 52 of 2024, effective sch 3 (items 6 ‑ 34): 29 June 2024 (s 2(1) item 3)

s 426-5 — Application of Subdivision 426 ‑ B to various kinds of endorsement

Subdivision 426 ‑ B applies separately in relation to each of these kinds of endorsement: (a) endorsement of an entity as a charity under subsection 176 ‑ 1(1) of the * GST Act; (ba) endorsement of: (i) a fund as an approved worker entitlement fund under subsection 58PB(3) of the Fringe Benefits Tax Assessment Act 1986 ; or (ii) an entity for the operation of a fund as an approved worker entitlement fund under subsection 58PB(3A) of that Act; (c) endorsement of an entity as a public benevolent institution under subsection 123C(1) of the Fringe Benefits Tax Assessment Act 1986 ; (e) endorsement of an entity as a health promotion charity under subsection 123D(1) of the Fringe Benefits Tax Assessment Act 1986 ; (f) endorsement of an entity under subsection 123E(1) of the Fringe Benefits Tax Assessment Act 1986 as a registered charity covered by table item 1 in subsection 65J(1) of that Act; (g) endorsement of an entity as a * deductible gift recipient, or as a deductible gift recipient for the operation of a fund, authority or institution, under section 30 ‑ 120 of the Income Tax Assessment Act 1997 ; (h) endorsement of an entity as exempt from income tax under section 50 ‑ 105 of the Income Tax Assessment Act 1997 .

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8) | Amended by No 41 of 2011, effective sch 5 (items 10 ‑ 14, 21 ‑ 23): 28 June 2011 sch 5 (item 24): 1 July 2011 ( see s 2(1)) sch 5 (items 34, 35, 146, 147, 168 ‑ 172, 401 ‑ 411, 421, 422): Royal Assent | Amended by No 12 of 2012, effective sch 6 (items 27 ‑ 29): 22 Dec 1999 (s 2(1) item 11) sch 6 (items 84 ‑ 93, 186, 187, 191, 192, 212, 213, 218, 241 ‑ 246, 248 ‑ 251): 21 Mar 2012 (s 2(1) items 14, 31) sch 6 (item 182): 3 Oct 2008 (s 2(1) item 30) | Amended by No 169 of 2012, effective sch 2 (items 68 ‑ 68C, 131 ‑ 134), sch 3 (items 2A ‑ 17): 3 Dec 2012 (s 2(1)) sch 3 (item 19): 3 June 2013 (s 2(1) item 9) | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 426-10 — How Subdivision 426 ‑ B applies to government entities in relation to endorsement under section 30 ‑ 120 of the Income Tax Assessment Act 1997

(1) This section applies in relation to endorsement under section 30 ‑ 120 of the Income Tax Assessment Act 1997 . (2) Subdivision 426 ‑ B applies in relation to a * government entity in the same way as it applies in relation to an entity. (3) If, apart from this subsection, section 426 ‑ 40 or 426 ‑ 45 (as applied by this section) would impose an obligation on a * government entity: (a) that is an unincorporated association or body; and (b) for whose management a single person is responsible to persons or bodies outside the government entity; the obligation is imposed on that person. (4) Subsection (3) has effect despite: (a) subsection (2); and (b) subsection 426 ‑ 50(2) as it applies because of this section.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8)

s 426-15 — Applying for endorsement

(1) An entity may apply to the Commissioner for endorsement. (2) The application: (a) must be in a form approved by the Commissioner; and (b) may be * lodged electronically; and (c) must be signed for the entity, or include the entity’s * electronic signature if the application is lodged electronically; and (d) must be lodged at, or posted to, an office or facility designated by the Commissioner as a receiving centre for applications of that kind. Note: The Commissioner could approve a form that is part of an application form for an ABN. (3) Section 426 ‑ 5 does not prevent the Commissioner from approving a single form to be used by an entity to make applications for 2 or more kinds of endorsement.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8)

s 426-20 — Dealing with an application for endorsement

Requiring further information or documents (1) The Commissioner may require an applicant to give the Commissioner specified information, or a specified document, that the Commissioner needs in order to decide whether the applicant is entitled to endorsement. Treating application as being refused (2) After the time worked out under subsection (3), the applicant may give the Commissioner written notice that the applicant wishes to treat the application as having been refused, if the Commissioner has not given the applicant before that time written notice that the Commissioner endorses or refuses to endorse the applicant. Note: Section 426 ‑ 25 requires the Commissioner to give the applicant written notice if the Commissioner endorses or refuses to endorse the applicant. (3) The time is the end of the 60th day after the application was made. However, if before that time the Commissioner requires the applicant under subsection (1) to give information or a document, the time is the later of the following (or either of them if they are the same): (a) the end of the 28th day after the last day on which the applicant gives the Commissioner information or a document he or she has required; (b) the end of the 60th day after the application was made. (4) If the applicant gives notice under subsection (2), section 426 ‑ 35 operates as if the Commissioner had refused the application on the day on which the notice is given. Note: Section 426 ‑ 35 lets the applicant object against refusal of an application in the manner set out in Part IVC of this Act. That Part provides for review of the refusal objected against. (5) The notice given by the applicant: (a) may be * lodged electronically; and (b) must be signed for the applicant, or include the applicant’s * electronic signature if the application is * lodged electronically.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8)

s 426-25 — Notifying outcome of application for endorsement

(1) The Commissioner must give the applicant written notice if: (a) the Commissioner endorses the applicant; or (b) the Commissioner refuses to endorse the applicant. (2) The Commissioner may give the notice by way of electronic transmission. This does not limit the ways in which the Commissioner may give the notice.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8)

s 426-30 — Date of effect of endorsement

(1) The endorsement has effect from a date specified by the Commissioner. (2) The date specified may be any date (including a date before the application for endorsement was made and a date before the applicant had an * ABN).

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8)

s 426-35 — Review of refusal of endorsement

If the applicant is dissatisfied with the Commissioner’s refusal to endorse the applicant in accordance with the application, the applicant may object against the refusal in the manner set out in Part IVC of this Act. Note: That Part provides for review of the refusal objected against.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8)

s 426-40 — Checking entitlement to endorsement

(1) The Commissioner may require an entity that is endorsed to give the Commissioner information or a document that is relevant to the entity’s entitlement to endorsement. The entity must comply with the requirement. Note 1: The conditions for an entity to be entitled to be endorsed are set out in: (a) subsections 176 ‑ 1(2) of the GST Act; and (b) subsections 123C(2), 123D(2) and 123E(2) of the Fringe Benefits Tax Assessment Act 1986 ; and (c) sections 30 ‑ 120 and 50 ‑ 105 of the Income Tax Assessment Act 1997 . Note 2: Failure to comply with this subsection is an offence against section 8C. Also, the Commissioner may revoke the endorsement of the entity under section 426 ‑ 55 if it fails to comply with this subsection. Note 3: Section 426 ‑ 50 modifies the way this subsection operates in relation to partnerships and unincorporated bodies. (2) The requirement: (a) is to be made by notice in writing to the entity; and (b) may ask the entity to give the information in writing; and (c) must specify: (i) the information or document the entity is to give; and (ii) the period within which the entity is to give the information or document. The period specified under subparagraph (c)(ii) must end at least 28 days after the notice is given. (3) The Commissioner may give the notice by way of electronic transmission. This does not limit the ways in which the Commissioner may give the notice. (4) If the requirement is for the entity to give information in writing, the document setting out the information: (a) must be given to the Commissioner; and (b) may be * lodged electronically; and (c) must be signed for the entity, or include the entity’s * electronic signature if the document is lodged electronically.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8) | Amended by No 12 of 2012, effective sch 6 (items 27 ‑ 29): 22 Dec 1999 (s 2(1) item 11) sch 6 (items 84 ‑ 93, 186, 187, 191, 192, 212, 213, 218, 241 ‑ 246, 248 ‑ 251): 21 Mar 2012 (s 2(1) items 14, 31) sch 6 (item 182): 3 Oct 2008 (s 2(1) item 30) | Amended by No 169 of 2012, effective sch 2 (items 68 ‑ 68C, 131 ‑ 134), sch 3 (items 2A ‑ 17): 3 Dec 2012 (s 2(1)) sch 3 (item 19): 3 June 2013 (s 2(1) item 9)

s 426-45 — Telling Commissioner of loss of entitlement to endorsement

(1) Before, or as soon as practicable after, an entity that is endorsed ceases to be entitled to be endorsed, the entity must give the Commissioner written notice of the cessation. Note 1: Failure to comply with this subsection is an offence against section 8C. Note 2: Section 426 ‑ 50 modifies the way this subsection operates in relation to partnerships and unincorporated bodies. (2) The notice: (a) may be * lodged electronically; and (b) must be signed for the entity, or include the entity’s * electronic signature if the document is lodged electronically. (3) Subsection (1) does not apply to an entitlement to endorsement ceasing because the entity ceases to have an * ABN.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8)

s 426-50 — Partnerships and unincorporated bodies

Application to partnerships (1) If, apart from this subsection, section 426 ‑ 40 or 426 ‑ 45 would impose an obligation on a partnership, the obligation is imposed on each partner, but may be discharged by any of the partners. Application to unincorporated bodies (2) If, apart from this subsection, section 426 ‑ 40 or 426 ‑ 45 would impose an obligation on an unincorporated association or body, the obligation is imposed on each member of the committee of management of the association or body, but may be discharged by any of the members of the committee. Defences for partners and members of committee of management (3) In a prosecution of a person for an offence against section 8C of this Act because of subsection (1) or (2), it is a defence if the person proves that the person: (a) did not aid, abet, counsel or procure the act or omission because of which the offence is taken to have been committed; and (b) was not in any way, by act or omission, directly or indirectly, knowingly concerned in, or party to, the act or omission because of which the offence is taken to have been committed.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8)

s 426-55 — Revoking endorsement

(1) The Commissioner may revoke the endorsement of an entity if: (a) at any time after the date of effect of the endorsement, the entity is not, or was not, entitled to be endorsed; or (b) the Commissioner has required the entity under section 426 ‑ 40 to provide information or a document that is relevant to its entitlement to endorsement and the entity has not provided the required information or document within the time specified in the requirement; or (c) in the case of an entity endorsed under section 30 ‑ 120 of the Income Tax Assessment Act 1997 —the entity has contravened Subdivision 30 ‑ CA of that Act (which requires the entity to ensure that certain things are stated in any receipts it issues for certain gifts). Note: The conditions for an entity to be entitled to be endorsed are set out in: (a) subsections 176 ‑ 1(2) of the GST Act; and (b) subsections 58PB(4) and (4A), 123C(2), 123D(2) and 123E(2) of the Fringe Benefits Tax Assessment Act 1986 ; and (c) sections 30 ‑ 120 and 50 ‑ 105 of the Income Tax Assessment Act 1997 . (2) The revocation has effect from a day specified by the Commissioner (which may be a day before the Commissioner decided to revoke the endorsement). (3) However, if the Commissioner revokes the endorsement because the entity is not, or was not, entitled to it, the Commissioner must not specify a day before the day on which the entity first ceased to be entitled. (4) The Commissioner must give the entity written notice if the Commissioner revokes its endorsement. (5) The Commissioner may give the notice by way of electronic transmission. This does not limit the ways in which the Commissioner may give the notice.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8) | Amended by No 141 of 2011, effective sch 6 (items 12, 13): 14 May 2012 (s 2(1) item 14) | Amended by No 12 of 2012, effective sch 6 (items 27 ‑ 29): 22 Dec 1999 (s 2(1) item 11) sch 6 (items 84 ‑ 93, 186, 187, 191, 192, 212, 213, 218, 241 ‑ 246, 248 ‑ 251): 21 Mar 2012 (s 2(1) items 14, 31) sch 6 (item 182): 3 Oct 2008 (s 2(1) item 30) | Amended by No 169 of 2012, effective sch 2 (items 68 ‑ 68C, 131 ‑ 134), sch 3 (items 2A ‑ 17): 3 Dec 2012 (s 2(1)) sch 3 (item 19): 3 June 2013 (s 2(1) item 9) | Amended by No 70 of 2015, effective sch 1 (items 151 ‑ 174, 195 ‑ 205): 1 July 2015 (s 2(1) items 3, 6) sch 6 (items 51 ‑ 59): 25 June 2015 (s 2(1) item 17)

s 426-60 — Review of revocation of endorsement

If the entity is dissatisfied with the revocation of its endorsement, the entity may object against the revocation in the manner set out in Part IVC of this Act. Note: That Part provides for review of the revocation objected against.

Amendment history: Inserted by No 95 of 2004, effective sch 10 (item 40): repealed before commencing (s 2(1) item 8) sch 10 (items 41, 44(2), (3), 45): 1 July 2005 (s 2(1) item 8)