Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 (53 of 2016)

Schedule 3   Withholding MITs and fund payments

Taxation Administration Act 1953

13   After section 16-5 in Schedule 1

Insert:

16-7 Treat entity obliged to pay under Subdivision 12A-C as having withheld amount under Division 12

For the purposes of this Division:

(a) if an entity must pay an amount to the Commissioner under Subdivision 12A-C, treat the entity as being obliged to withhold the amount under Division 12; and

(b) if an entity has paid an amount to the Commissioner under Subdivision 12A-C, treat the entity as having withheld the amount under Division 12.