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-D - Directors etc. of non-complying companies  

Object of Subdivision

SECTION 18-120   18-120   OBJECT OF SUBDIVISION  


The object of this Subdivision is to reverse the economic benefit of a credit under section 18-15 (Tax credit for recipient of withholding payment) of a director, or an * associate of a director, of a company if:


(a) the company does not comply with its obligations under subsection 16-70(1) (obligation to pay amounts withheld to the Commissioner); and


(b) the credit is attributable to * amounts withheld from * withholding payments made by the company to the director or associate;

until the company complies with its obligations.




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