A New Tax System (Pay As You Go) Act 1999 (178 of 1999)

Schedule 3  

61   Subsection 995-1(1)

Insert:

withholding payment covered by a particular provision in Schedule 1 to the Taxation Administration Act 1953 means a *withholding payment consisting of:

(a) a payment from which an amount must be withheld under that provision (even if the amount is not withheld); or

(b) a *non-cash benefit provided by an entity if that provision would have required the entity to withhold an amount if, instead of providing the benefit, the entity had paid the *market value of the benefit; or

(c) a non-cash benefit provided to an entity if that provision would have required the entity to withhold an amount if the benefit had been a payment of an amount equal to the market value of the benefit.