Document ID: chunk:federal_register_of_legislation:C2007A00079:clause:10_21
Version: federal_register_of_legislation:C2007A00079
Segment Type: clause
Provision Reference: sch 10 cl 21
Character Range: 117069–117978

21  After section 16‑155 in Schedule 1
Insert:

16‑157  Payment summary for Subdivision 12‑H

 (1) An entity (the payer) must give a *payment summary to another entity (the recipient) if the payer made *withholding payments covered by section 12‑385 or 12‑390 to the recipient in relation to *fund payments made by a particular *managed investment trust (the paying trust) in relation to an income year of that trust.

Note: The entity may be the managed investment trust itself or an intermediary.

 (2) The *payment summary:
 (a) must cover each of the *withholding payments mentioned in subsection (1); and
 (b) may be in electronic form; and
 (c) must be given:
 (i) not later than 14 days after the end of 6 months after the end of the income year of the *managed investment trust in relation to which the relevant *fund payments were made; or
 (ii) within a longer period allowed by the Commissioner.