Income Tax Assessment Act 1997
CHAPTER 3
-
SPECIALIST LIABILITY RULES
PART 3-25
-
PARTICULAR KINDS OF TRUSTS
Division 276
-
Australian managed investment trusts: attribution managed investment trusts
Subdivision 276-C
-
Taxation etc. of member components
Taxation etc. of member on determined member components
SECTION 276-95
Relationship between section 276-80 and withholding rules
276-95(1)
Subsection 276-80(2) does not apply to the extent that the *determined member component is reflected in an *AMIT DIR payment or a *fund payment, if an amount in respect of the payment:
(a) has been withheld from the payment under Subdivision 12-F or 12-H in Schedule 1 to the Taxation Administration Act 1953 ; or
(b) would be so withheld apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule; or
(c) has been paid under Division 12A in that Schedule; or
(d) would be so paid apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule. 276-95(2)
However, if the *determined member component is reflected in a *fund payment, subsection (1) applies only to the extent to which an amount attributable to the fund payment is treated under section 840-815 as not assessable income and not *exempt income. 276-95(3)
Subsection 276-80(2) does not affect the operation of the following:
(a) Division 11A of Part III of the Income Tax Assessment Act 1936 ;
(b) Subdivision 840-M of this Act;
(c) Division 12 in Schedule 1 to the Taxation Administration Act 1953 .
View history note
Hide history noteSubsection 276-80(2) does not apply to the extent that the *determined member component is reflected in an *AMIT DIR payment or a *fund payment, if an amount in respect of the payment:
(a) has been withheld from the payment under Subdivision 12-F or 12-H in Schedule 1 to the Taxation Administration Act 1953 ; or
(b) would be so withheld apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule; or
(c) has been paid under Division 12A in that Schedule; or
(d) would be so paid apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule. 276-95(2)
However, if the *determined member component is reflected in a *fund payment, subsection (1) applies only to the extent to which an amount attributable to the fund payment is treated under section 840-815 as not assessable income and not *exempt income. 276-95(3)
Subsection 276-80(2) does not affect the operation of the following:
(a) Division 11A of Part III of the Income Tax Assessment Act 1936 ;
(b) Subdivision 840-M of this Act;
(c) Division 12 in Schedule 1 to the Taxation Administration Act 1953 .
Note:
See Division 12A in Schedule 1 to the Taxation Administration Act 1953 for provisions about withholding tax that apply specifically to AMITs.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.