Taxation Administration: Classes of Electronic Payment System Transactions Exempt from Being Reported in Third Party Reports Determination 2022 (Cth)

Legislative Instrument

Taxation Administration: Classes of Electronic Payment System Transactions Exempt from Being Reported in Third Party Reports Determination 2022

I, Ben Kelly, Deputy Commissioner of Taxation, make this determination under subsection 396-70(4) of Schedule 1 to the Taxation Administration Act 1953.

Deputy Commissioner of Taxation Policy, Analysis and Legislation Law Design and Practice Dated: 25 October 2022

1. Name of instrument

This instrument is the Taxation Administration: Classes of Electronic Payment System Transactions Exempt from Being Reported in Third Party Reports Determination 2022.

2. Commencement

This instrument commences on 1 July 2022.

3. Reporting exemptions

(1) An administrator of a payment system, within the meaning of the Payment Systems (Regulation) Act 1998, is not required to provide information to the Commissioner of Taxation under table item 9 in section 396-55 of Schedule 1 to the Taxation Administration Act 1953 (TAA) in relation to a transaction that is a payment:

(a) initiated by another entity, where the other entity is required to provide information to the Commissioner in relation to the transaction under table item 9 in section 396-55 of Schedule 1 to the TAA;

(b) made to a carriage service provider (within the meaning of the Telecommunications Act 1997);

(c) made to a utility for the provision of electricity, water, sewerage, or gas;

(d) made to a government related entity (within the meaning of section 195-1 of the A New Tax System (Goods and Services Tax) Act 1999);

(e) made to a general insurer and received in the course of the insurer's insurance business (within the meaning of the Insurance Act 1973);