Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_1:p5
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 5/21)
Character Range: 20498–23303

from the payment; and
 (c) the entity and the individual are parties to an agreement (the voluntary agreement) that is in the *approved form and states that this section covers payments under the arrangement mentioned in paragraph (a), or under a series of such arrangements that includes that arrangement; and
 (d) the individual has an *ABN that is in force and is *quoted in that agreement.

For exceptions, see section 12‑1.

 (2) Each party must keep a copy of the voluntary agreement from when it is made until 5 years after the making of the last payment covered by the agreement.

Penalty: 30 penalty units.

Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.

 (3) A party to the voluntary agreement may terminate it at any time by notifying the other party in writing.

12‑60  Payment under labour hire arrangement, or specified by regulations

  An entity that carries on an *enterprise must withhold an amount from a payment that it makes to an individual in the course or furtherance of the enterprise if:
 (a) the payment is made under an *arrangement the performance of which, in whole or in part, involves the performance of work or services by the individual for a client of the entity; or
 (b) the payment is, in whole or in part, for work or services and is of a kind prescribed by the regulations.

For exceptions, see section 12‑1.

Subdivision 12‑C—Retirement payments, eligible termination payments and annuities

Table of sections

12‑80 Payment of pension or annuity
12‑85 Eligible termination payment
12‑90 Payment for unused leave

12‑80  Payment of pension or annuity

  An entity must withhold an amount from a payment it makes to an individual if the payment is:
 (a) a pension within the meaning of the Superannuation Industry (Supervision) Act 1993 or the Retirement Savings Account Act 1997; or
 (b) an annuity within the meaning of the Superannuation Industry (Supervision) Act 1993.

For exceptions, see section 12‑1.

12‑85  Eligible termination payment

  An entity must withhold an amount from an *eligible termination payment it makes to an individual.

12‑90  Payment for unused leave

  An entity must withhold an amount from a payment it makes to an individual if the payment is included in the individual's assessable income under:
 (a) section 26AC (payment for unused annual leave); or
 (b) section 26AD (payment for unused long service leave);
of the Income Tax Assessment Act 1936.

For exceptions, see section 12‑1.

Subdivision 12‑D—Benefit and compensation payments

Table of sections

12‑110 Social Security or other benefit payment
12‑115 Commonwealth education or training payment
12‑120 Compensation, sickness or accident payment

12‑110  Social Security or other benefit payment

 (1) An entity must withhold