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 18 - Recipient ' s entitlements and obligations  

Subdivision 18-A - Crediting withheld amounts  

SECTION 18-1   WHAT THIS SUBDIVISION IS ABOUT  


In general, an entity:

  • · that receives a withholding payment (except one covered by section 12-215 , 12-250 or 12-285 , Subdivision 12-FC , or subsection 12-390(4) ); or
  • · that is the foreign resident for which a withholding payment covered by section 12-215 , 12-250 or 12-285 , Subdivision 12-FC , or subsection 12-390(4) , (or a part of it) is received;
  • is entitled to a credit for the amount withheld from the withholding payment.

    However, if that entity is a partnership or trust, a partner, beneficiary or trustee may be entitled to the credit.

    This Subdivision tells you:

  • · who is entitled to a credit; and
  • · how to work out the amount of the credit.
  • How a credit is applied is set out in Division 3 of Part IIB .




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