Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_15:p9
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 15 (pt 9/39)
Character Range: 1834323–1837212

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.

Part 5‑30—Payment, ABN and identification verification system

Division 400—Guide to Part 5‑30

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.

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.

Division 405—Transaction reporting by purchasers

Table of sections
405‑5 Payments to which this Division applies
405‑10 Reporting requirements
405‑15 Invoices produced by purchasers

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.

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