Document ID: chunk:federal_register_of_legislation:C2021C00522:clause:23_2:p1
Version: federal_register_of_legislation:C2021C00522
Segment Type: clause
Provision Reference: sch 23 cl 2 (pt 1/2)
Character Range: 277222–280120

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).

389‑20  Effect on reporting requirements under Subdivision 16‑C
 (1) An entity is not required to comply with a requirement of:
 (a) section 16‑150 (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.

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) (and no other item in that table) 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