INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX

Division 5 - Collection of mining withholding tax

SECTION 221ZF

221ZF CREDITS IN RESPECT OF DEDUCTIONS MADE FROM MINING PAYMENTS
Where a deduction from a mining payment has been made, or purports to have been made, for the purposes of section 221ZB :

(a) in a case to which paragraph (b) does not apply - the person liable to pay mining withholding tax upon that payment is entitled to a credit of an amount equal to that deduction; and

(b) in a case where, by reason of the making of the mining payment, separate mining payments are deemed by subsection 128U(4) , for the purposes of Division 11C of Part III , to have been made to, or applied for the benefit of, 2 or more persons - each of those persons is entitled to a credit of an amount that bears to the amount of the deduction the same proportion as 1 bears to the number of those persons.

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