Income Tax Assessment Act 1997
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Hide history noteSECTION 44-30 44-30 Your build to rent withholding amount
Your build to rent withholding amount , for a *build to rent development that *ceases to be an *active build to rent development, is the amount worked out as follows: Method statement
Step 1.
Identify each income year in which, at any time during the year, the *build to rent development was an *active build to rent development.
Step 2.
For each of those years, identify each *fund payment made by the owner of the *active build to rent development, or each part of such a fund payment, (if any) that is referable to any of the following:
Note:
For the purposes of this step, it does not matter whether an amount must be withheld from a fund payment under Part 2-5 in Schedule 1 to the Taxation Administration Act 1953 .
Step 3.
For each year add up the amounts of payments, or parts of payments, identified under Step 2.
Step 4.
Add up the Step 3 amounts for each year.
Step 5.
Your build to rent withholding amount is the Step 4 amount multiplied by 1.08.
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