TAXATION ADMINISTRATION ACT 1953 [ARCHIVE]

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

Special rules for 2000-01

SECTION 16-125 [Archive]   MEANING OF LARGE WITHHOLDER  

16-125(1)  
An entity is a large withholder for a particular month (the current month ) in the *financial year starting on 1 July 2000 if:


(a) the entity was a large remitter in relation to June 2000 because of section 220AAB of the Income Tax Assessment Act 1936 ; or


(b) the total of the deductions that the entity made under Division 2 of Part VI of that Act for the financial year ending on 30 June 2000 exceeded $1 million; or


(c) the total of the entity ' s *labour hire notional withheld amounts (see subsections (2) to (4)) exceed $1 million; or


(d) at the end of 30 June 2000 the entity was included in a company group as defined in section 220AAI of that Act, and:


(i) the total of the deductions under Division 2 of Part VI of that Act, for the financial year ending on that day, made by the entities that were included in that company group at the end of that day, exceeded $1 million; or

(ii) the total of the labour hire notional withheld amounts (see subsections (2) to (4)) of entities that were included in that company group at the end of that day exceed $1 million; or


(e) the Commissioner determines under section 16-115 that the entity is a large withholder for the current month. Meaning of labour hire notional withheld amount

16-125(2)  
If during the *financial year ending on 30 June 2000 an entity made a payment from which section 12-60 (about payments under labour hire arrangements) would have required it to withhold an amount (if that section had applied to payments made during that financial year), that amount is a labour hire notional withheld amount of the entity.

16-125(3)  
If:


(a) during the *financial year ending on 30 June 2000 an entity provided a *non-cash benefit to an individual; and


(b) section 12-60 (about payments under labour hire arrangements) would have required the entity to withhold an amount if:


(i) instead of providing the benefit, the entity had paid the individual the *market value of the benefit; and

(ii) that section had applied to payments made during that financial year;

that amount is a labour hire notional withheld amount of the entity.

16-125(4)  
For the purposes of subsections (2) and (3), disregard subsection 12-60(2) (which allows the scope of section 12-60 to be extended by regulations).

Exception

16-125(5)  
However, an entity is not a *large withholder for a month if the Commissioner determines under section 16-110 that it is a *medium withholder or a *small withholder for that month.




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