1.1.P.75 Payment Summary

Definition

A Payment Summary, previously known as a Group Certificate, refers to a written statement that:

• names the payer (individual, business, company) and the recipient, and
• if the recipient has given their TFN or ABN (to the payer - states the TFN or ABN, and
• states the total of the withholding payments that it covers and the total amounts withheld (previously tax instalment deductions), if any, by the payer from those withholding payments, and
• specifies the financial year in which the withholding payments were made, and
• specifies the reportable fringe benefits amount, if any, that it covers in the income year to which that amount relates, and
• specifies the reportable employer superannuation contributions, if any, that it covers and the income year to which those contributions relate.

Act reference: Taxation Administration Act 1953 refer to Schedule 1 Collection and recovery of income tax and other liabilities, Chapter 2 Collection, recovery and administration of income tax, Part 2-5 Pay as you go (PAYG) withholding

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Last reviewed: 6 September 2010