Taxation Administration Act 1953

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

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History

Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

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History

Ch 2 title inserted by No 73 of 2006 , s 3 and Sch 5 item 40, effective 1 July 2006.

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

Division 16 - Payer ' s obligations and rights  

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Subdivision 16-A - To withhold  

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When to withhold

SECTION 16-5  

16-5   WHEN TO WITHHOLD AN AMOUNT  

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If Division 12 requires an entity to withhold an amount from a payment, the entity must do so when making the payment.

Note 1:

An entity is required to withhold an amount under section 12-145 when an investor becomes presently entitled to income of a unit trust.

Note 1A:

A trustee of a closely held trust is required to withhold an amount under section 12-180 when a beneficiary is presently entitled to unpaid income of the trust.

Note 2:

If section 12-215 , 12-250 or 12-285 , or subsection 12-390(4) , requires an entity to withhold an amount from a payment received by the entity, the entity must do so at the time required by that provision.

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History

S 16-5 amended by No 75 of 2010 , s 3 and Sch 2 item 9, by inserting note 1A, applicable to income of a trust of an income year starting on or after 1 July 2010.

S 16-5 amended by No 14 of 2009, s 3 and Sch 4 item 37, by substituting " that provision " for " that section " , effective 26 March 2009.

S 16-5 amended by No 32 of 2008 , s 3 and Sch 1 item 31, by inserting " , or subsection 12-390(4), " , applicable to fund payments made in relation to the first income year starting on or after the first 1 July after 23 June 2008 and later income years.

S 16-5 amended by No 44 of 2000.

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