Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
If:
(a) an entity (the payer ) receives in the form of a *non-cash benefit:
(b) section 12-215 , 12-250 or 12-285 would have required the payer to withhold an amount if the dividend, interest or royalty had been a payment in money;
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 14
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Benefits, gains and taxable supplies for which amounts must be paid to the Commissioner
Subdivision 14-A
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Non-cash benefits
SECTION 14-10
14-10
DIVIDEND, INTEREST OR ROYALTY RECEIVED, FOR A FOREIGN RESIDENT, IN THE FORM OF A NON-CASH BENEFIT
If:
(a) an entity (the payer ) receives in the form of a *non-cash benefit:
(i) a *dividend of a company; or
(ii) interest (within the meaning of Division 11A of Part III of the Income Tax Assessment Act 1936 ); or
(iii) a *royalty; and
(b) section 12-215 , 12-250 or 12-285 would have required the payer to withhold an amount if the dividend, interest or royalty had been a payment in money;
the payer must pay that amount to the Commissioner before providing the benefit (or part of it) to another entity.
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