Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
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;
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.
Note: See section 3AA .
Chapter 2 - Collection, recovery and administration of income tax
PART 2-5
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PAY AS YOU GO (PAYG) WITHHOLDING
Division 12
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Payments from which amounts must be withheld
Subdivision 12-G
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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.
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