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 14 - Benefits, gains and taxable supplies for which amounts must be paid to the Commissioner  

Subdivision 14-B - Accruing gains  

SECTION 14-65   14-65   APPLICATION OF RULES IN DIVISION 18  


These provisions:


(a) subsection 18-15(1) and sections 18-20 and 18-25 (about credits for amounts withheld from withholding payments); and


(b) section 18-80 (about refunds when exemption declaration not given);

apply as if any of the *TFN withholding tax that has been paid were an amount withheld under subsection 12-140(1) from a *withholding payment covered by that subsection and made to the *investor during:


(c) unless the *investor has adopted (under section 18 of the Income Tax Assessment Act 1936 ) an accounting period ending on a day other than 30 June - the income year referred to in paragraph 14-55(1)(a) ; or


(d) if the investor has adopted such an accounting period - the income year in which the TFN withholding tax is paid.

Note:

Unless the investor has adopted such an accounting period, the credit under section 18-15 , 18-20 or 18-25 will be in respect of the income year before the one in which the TFN withholding tax is paid.




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