Document ID: chunk:federal_register_of_legislation:C2016C00475:clause:1_373
Version: federal_register_of_legislation:C2016C00475
Segment Type: clause
Provision Reference: sch 1 cl 373
Character Range: 121154–121908

373  Section 16‑165 in Schedule 1
Repeal the section, substitute:

16‑165  Payment summaries for superannuation lump sums and employment termination payments
 (1) Within 14 days after an entity (the payee) makes a payment covered under subsection (2) to a person (the recipient), the entity must:
 (a) give a *payment summary to the recipient that covers the payment (and no other payments); and
 (b) give a copy of the summary to the Commissioner.
 (2) The following payments are covered under this subsection if they are *withholding payments:
 (a) a *superannuation lump sum;
 (b) an *employment termination payment, other than a directed termination payment within the meaning of section 82‑10F of the Income Tax (Transitional Provisions) Act 1997.