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Legislative Instrument

Taxation Administration – Payment Summary Deferral: Employment Termination and Departing Australia Superannuation Payments Deferral 2022

I, Ben Kelly, Deputy Commissioner of Taxation, make this determination under section 388-55 of Schedule 1 to the Taxation Administration Act 1953 (TAA).

Ben Kelly
Deputy Commissioner of Taxation
Policy, Analysis and Legislation
Law Design and Practice

9 March 2022

1.                  Name of instrument
This Determination is the Taxation Administration – Payment Summary Deferral: Employment Termination and Departing Australia Superannuation Payments Deferral 2022.

2.                  Commencement
This Instrument commences on 1 April 2022.

3.                  Application
This Instrument applies to entities that have obligations to provide copies of payment summaries in respect of:

         (a)               employment termination payments under paragraph 16-165(1)(b) of Schedule 1 to the TAA, and
         (b)               departing Australia superannuation payments made under paragraph 16-166(b) of Schedule 1 to the TAA.

4.                  Determination
The due date to give a copy of a payment summary to the Commissioner under paragraph 16-165(1)(b) and paragraph 16-166(b) of Schedule 1 to the TAA is varied to 14 August following the financial year in which the payment was made.

5.                  Definitions
Employment termination payment has the meaning given by section 82-130 of the Income Tax Assessment Act 1997.

Departing Australia superannuation payment has the meaning given by section 301-170 of the Income Tax Assessment Act 1997.

All other terms take their meaning from the TAA (see subsection 3AA(2) of this Act).

6.                  Repeals
Each instrument that is specified in Schedule 1 to this instrument is repealed as set out in the applicable items in that Schedule 1.