INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART VI
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COLLECTION AND RECOVERY OF TAX
Division 5
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Collection of mining withholding tax
SECTION 221ZF
221ZF
CREDITS IN RESPECT OF DEDUCTIONS MADE FROM MINING PAYMENTS
Where a deduction from a mining payment has been made, or purports to have been made, for the purposes of section 221ZB :
(a) in a case to which paragraph (b) does not apply - the person liable to pay mining withholding tax upon that payment is entitled to a credit of an amount equal to that deduction; and
(b) in a case where, by reason of the making of the mining payment, separate mining payments are deemed by subsection 128U(4) , for the purposes of Division 11C of Part III , to have been made to, or applied for the benefit of, 2 or more persons - each of those persons is entitled to a credit of an amount that bears to the amount of the deduction the same proportion as 1 bears to the number of those persons.
View history note
Hide history noteWhere a deduction from a mining payment has been made, or purports to have been made, for the purposes of section 221ZB :
(a) in a case to which paragraph (b) does not apply - the person liable to pay mining withholding tax upon that payment is entitled to a credit of an amount equal to that deduction; and
(b) in a case where, by reason of the making of the mining payment, separate mining payments are deemed by subsection 128U(4) , for the purposes of Division 11C of Part III , to have been made to, or applied for the benefit of, 2 or more persons - each of those persons is entitled to a credit of an amount that bears to the amount of the deduction the same proportion as 1 bears to the number of those persons.
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