Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-25
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PARTICULAR KINDS OF TRUSTS
Division 276
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Australian managed investment trusts: attribution managed investment trusts
Subdivision 276-C
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Taxation etc. of member components
Taxation etc. of member on determined member components
SECTION 276-95 Relationship between section 276-80 and withholding rules 276-95(1)
Subsection 276-80(2) does not apply to the extent that the *determined member component is reflected in an *AMIT DIR payment or a *fund payment, if an amount in respect of the payment:
(a) has been withheld from the payment under Subdivision 12-F or 12-H in Schedule 1 to the Taxation Administration Act 1953 ; or
(b) would be so withheld apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule; or
(c) has been paid under Division 12A in that Schedule; or
(d) would be so paid apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule.
276-95(2)
However, if the *determined member component is reflected in a *fund payment, subsection (1) applies only to the extent to which an amount attributable to the fund payment is treated under section 840-815 as not assessable income and not *exempt income.
276-95(3)
Subsection 276-80(2) does not affect the operation of the following:
(a) Division 11A of Part III of the Income Tax Assessment Act 1936 ;
(b) Subdivision 840-M of this Act;
(c) Division 12 in Schedule 1 to the Taxation Administration Act 1953 .
View history note
Hide history noteSECTION 276-95 Relationship between section 276-80 and withholding rules 276-95(1)
Subsection 276-80(2) does not apply to the extent that the *determined member component is reflected in an *AMIT DIR payment or a *fund payment, if an amount in respect of the payment:
(a) has been withheld from the payment under Subdivision 12-F or 12-H in Schedule 1 to the Taxation Administration Act 1953 ; or
(b) would be so withheld apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule; or
(c) has been paid under Division 12A in that Schedule; or
(d) would be so paid apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule.
276-95(2)
However, if the *determined member component is reflected in a *fund payment, subsection (1) applies only to the extent to which an amount attributable to the fund payment is treated under section 840-815 as not assessable income and not *exempt income.
276-95(3)
Subsection 276-80(2) does not affect the operation of the following:
(a) Division 11A of Part III of the Income Tax Assessment Act 1936 ;
(b) Subdivision 840-M of this Act;
(c) Division 12 in Schedule 1 to the Taxation Administration Act 1953 .
Note:
See Division 12A in Schedule 1 to the Taxation Administration Act 1953 for provisions about withholding tax that apply specifically to AMITs.
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