Taxation Administration Regulations 2017
PART 3
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INCOME TAX (CHAPTER 2 IN SCHEDULE 1 TO THE ACT)
Division 3
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Pay as you go (PAYG) withholding
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Working out the amount to withhold
Subdivision A
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Withholding amounts for Subdivision 12-E
SECTION 36
36
CLOSELY HELD TRUST
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DISTRIBUTION OF INCOME OF CLOSELY HELD TRUST
The amount to be withheld by a trustee of a closely held trust from a distribution to a beneficiary of the trust under subsection 12-175(2) in Schedule 1 to the Act is the product of the amount of the distribution to be made to the beneficiary and the top rate.
The amount to be withheld by a trustee of a closely held trust from a distribution to a beneficiary of the trust under subsection 12-175(2) in Schedule 1 to the Act is the product of the amount of the distribution to be made to the beneficiary and the top rate.
Note 1:
The amount of a distribution in a financial year is affected by the operation of subsection 12-175(4) in Schedule 1 to the Act.
Note 2:
For the threshold for withholding, see section 30 .
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