Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-5 - PAY AS YOU GO (PAYG) WITHHOLDING  

Division 12 - Payments from which amounts must be withheld  

Subdivision 12-FAA - Excess untaxed roll-over amount  

SECTION 12-313  

12-313   LIMITS ON AMOUNT WITHHELD UNDER THIS SUBDIVISION  

This Subdivision does not require an entity:

(a) to withhold an amount from an *excess untaxed roll-over amount if no *withholding tax is payable on the amount; or

(b) to withhold from an excess untaxed roll-over amount more than the withholding tax payable on the amount (reduced by each amount already withheld from the excess untaxed roll-over amount under this Subdivision).

Note:

Section 306-15 of the Income Tax Assessment Act 1997 deals with liability to this form of withholding tax.