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23 Apr 12 PAYG variation – low income minors where no TFN or ABN provided

The ATO has made a legislative determination which varies to nil the amount of withholding required by a payer under the PAYG withholding system for low income minors who do not provide their TFN or ABN: Legislative Instrument F2012L00884; registered 18 April 2012.

The instrument provides a variation to the amount of withholding required from payments made on or after 1st July 2012. It removes the requirement that a minor quote his or her TFN or ABN when earnings are below the tax-free threshold. The thresholds quoted in the instrument reflect the personal income tax thresholds that apply from 1 July 2012.

The instrument commences on the day after registration.


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