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 14 - Benefits, gains and taxable supplies for which amounts must be paid to the Commissioner  

Subdivision 14-A - Non-cash benefits  

SECTION 14-10  

14-10   DIVIDEND, INTEREST OR ROYALTY RECEIVED, FOR A FOREIGN RESIDENT, IN THE FORM OF A NON-CASH BENEFIT  

If:

(a) an entity (the payer ) receives in the form of a *non-cash benefit:

(i) a *dividend of a company; or

(ii) interest (within the meaning of Division 11A of Part III of the Income Tax Assessment Act 1936 ); or

(iii) a *royalty; and

(b) section 12-215 , 12-250 or 12-285 would have required the payer to withhold an amount if the dividend, interest or royalty had been a payment in money;

the payer must pay that amount to the Commissioner before providing the benefit (or part of it) to another entity.