INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VII - PENALTY TAX  

SECTION 222B   TAXATION STATEMENTS  

222B(1)   [Interpretation]  

For the purposes of this section:

(a) subject to paragraph (b), expressions in this section have the same meanings as in Division 16E of Part III ; and

(b) paragraph (a) applies as if paragraph (c) of the definition of ``qualifying security'' in subsection 159GP(1) were omitted; and

(c) sections 159GV (other than subsection 159GV(2) ) and 159GZ apply as if references in them to ``this Division'' were references to this section.

222B(2)   [Notice or advice re transfer of qualifying security]  

Where:

(a) a person to whom a notice is given under section 265B gives the notice to another person in connection with the transfer of a qualifying security to the other person; or

(b) a person gives advice in writing to another person, in connection with the transfer of a qualifying security, of a variation or partial redemption of the qualifying security;

any statement in the notice when so given, or in the advice when so given, to the other person is taken, for the purposes of this Part, to have been made by the person giving the notice or advice, as the case may be, to the other person for a purpose in connection with the operation of this Act.

222B(3)   [No advice that security varied or partially redeemed]  

Where:

(a) the holder of a qualifying security transfers the security to another person; and

(b) because of the application of section 128AA , the holder is liable to pay withholding tax in relation to the transfer of the qualifying security; and

(c) before the security was transferred, the holder gave to the transferee, in connection with the transfer, a notice issued to the holder under section 265B identifying the security; and

(d) after the notice was issued to the holder, the security was varied or partially redeemed; and

(e) the holder did not advise the transferee in writing of the variation or partial redemption;

the holder is taken, for the purposes of this Part, to have made for a purpose in connection with the operation of this Act a statement that the qualifying security was not so varied or partially redeemed.

222B(4)   [Certificate identifying security]  

Where:

(a) the holder of a qualifying security who acquired the security on transfer ( ``current acquisition transfer'' ) transfers the security to another person; and

(b) because of the application of section 128AA , the holder is liable to pay withholding tax in relation to the transfer of the security; and

(c) before the security was transferred, the holder gave to the transferee, in connection with the transfer, a certificate issued to the holder under section 128AB identifying the security; and

(d) the holder had acquired the security on transfer on any occasion before the current acquisition transfer;

the holder is taken, for the purposes of this Part, to have made for a purpose in connection with the operation of this Act a statement that the certificate relates to the current acquisition transfer.

222B(5)   [Certificate given to issuer]  

Where:

(a) a qualifying security is redeemed or partially redeemed from the holder; and

(b) the holder acquired the security on transfer ( ``current acquisition transfer'' ); and

(c) the holder is liable to pay withholding tax in relation to the redemption or partial redemption of the security; and

(d) before the security was redeemed or partially redeemed, the holder gave to the issuer, in connection with the redemption or partial redemption, a certificate issued to the holder under section 128AB identifying the security; and

(e) the holder had acquired the security on transfer on any occasion before the current acquisition transfer;

the holder is taken, for the purposes of this Part, to have made for a purpose in connection with the operation of this Act a statement that the certificate relates to the current acquisition transfer.