Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_15:p13
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 15 (pt 13/39)
Character Range: 1844549–1847362

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.

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.

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.

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.

Division 420—Penalties for not reporting or verifying

Table of sections
420‑5 Failing to report or verify: administrative penalty

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.

Division 425—Other matters

Table of sections
425‑20 Constructive payment
425‑25 Non‑cash benefits

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