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-B - Accruing gains  

SECTION 14-60   INVESTMENT BODY MAY RECOVER TFN WITHHOLDING TAX FROM INVESTOR  

14-60(1)    
The *investment body may recover from the *investor as a debt any of the *TFN withholding tax that it pays.

14-60(2)    
The *investment body is entitled to set off an amount that it can recover from the *investor under this section against:

(a) a debt due by it to the investor; or

(b) an amount that is accruing to the investor, or stands to the investor ' s credit, in respect of the *Part VA investment, even if the amount is not yet due.