Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-5 - PAY AS YOU GO (PAYG) WITHHOLDING  

Division 12 - Payments from which amounts must be withheld  

Subdivision 12-G - Payments in respect of mining on Aboriginal land, and natural resources  

Natural resources

SECTION 12-325   NATURAL RESOURCE PAYMENT  

12-325(1)    
An entity must withhold an amount from a payment it makes to a foreign resident, or to 2 or more entities at least one of which is a foreign resident, if the payment is worked out wholly or partly by reference to the value or quantity of *natural resources produced or recovered in Australia.

12-325(2)    
The amount to be withheld is:


(a) the amount notified by the Commissioner under section 12-330 ; or


(b) the amount worked out under a certificate in force under section 12-335 that covers the payment;

as appropriate.



Exception

12-325(3)    
Subsection (1) does not apply if:


(a) the Commissioner has notified the entity under section 12-330 that the entity does not need to withhold an amount from the payment; or


(b) a certificate in force under section 12-335 covers the payment and does not require the entity to withhold an amount from it.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.