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.