TAXATION ADMINISTRATION REGULATIONS 1976 (REPEALED)
PART 5
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PAY AS YOU GO WITHHOLDING
Division 3
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Payments in respect of which ABNs or TFNs not quoted and Part VA investment payments
REGULATION 36
ETPs AND SUPERANNUATION LUMP SUMS FOR WHICH TFN IS NOT QUOTED
36(1)
This regulation applies if an individual has not made a TFN declaration that is in effect under Division 3 of Part VA of the Income Tax Assessment Act 1936 to an entity that:
(a) makes an ETP to the individual; or
(b) pays a superannuation lump sum to the individual.
36(1A)
However, this regulation does not apply in relation to an individual if subsection 12-1(1A) of Schedule 1 to the Act applies to the payment of the ETP or the superannuation lump sum.
36(2)
If the individual is a prescribed non-resident, the amount to be withheld from the ETP or the superannuation lump sum under section 12-85 of Schedule 1 to the Act is the amount worked out by multiplying the number of whole dollars in the taxable component of the ETP or the superannuation lump sum, by the highest rate specified in the table in Part II of Schedule 7 to the Income Tax Rates Act 1986 .
36(3)
If the individual is not a prescribed non-resident, the amount to be withheld from the ETP or the superannuation lump sum under section 12-85 of Schedule 1 to the Act is the amount worked out by multiplying the number of whole dollars in the taxable component of the ETP or the superannuation lump sum, by the top rate.
36(4)
In this regulation:
(a) a taxable component of an employment termination payment within the meaning given by subsection 995-1(1) of the 1997 Tax Act; or
(b) a taxable component of a superannuation benefit within the meaning given by subsection 995-1(1) of the 1997 Tax Act.
View history note
Hide history noteThis regulation applies if an individual has not made a TFN declaration that is in effect under Division 3 of Part VA of the Income Tax Assessment Act 1936 to an entity that:
(a) makes an ETP to the individual; or
(b) pays a superannuation lump sum to the individual.
36(1A)
However, this regulation does not apply in relation to an individual if subsection 12-1(1A) of Schedule 1 to the Act applies to the payment of the ETP or the superannuation lump sum.
36(2)
If the individual is a prescribed non-resident, the amount to be withheld from the ETP or the superannuation lump sum under section 12-85 of Schedule 1 to the Act is the amount worked out by multiplying the number of whole dollars in the taxable component of the ETP or the superannuation lump sum, by the highest rate specified in the table in Part II of Schedule 7 to the Income Tax Rates Act 1986 .
36(3)
If the individual is not a prescribed non-resident, the amount to be withheld from the ETP or the superannuation lump sum under section 12-85 of Schedule 1 to the Act is the amount worked out by multiplying the number of whole dollars in the taxable component of the ETP or the superannuation lump sum, by the top rate.
36(4)
In this regulation:
employment termination payment
has the meaning given by subsection
995-1(1)
of the 1997 Tax Act;
ETP
means an employment termination payment.
superannuation lump sum
has the meaning given by subsection
995-1(1)
of the 1997 Tax Act.
taxable component of the payment
means:
(a) a taxable component of an employment termination payment within the meaning given by subsection 995-1(1) of the 1997 Tax Act; or
(b) a taxable component of a superannuation benefit within the meaning given by subsection 995-1(1) of the 1997 Tax Act.
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