Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
PART 2-5
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PAY AS YOU GO (PAYG) WITHHOLDING
Division 12A
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Distributions by AMITs (including deemed payments)
Subdivision 12A-A
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Distributions by AMITs relating to dividend, interest and royalties
Operative provisions
SECTION 12A-10
DEEMED PAYMENTS
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NO OBLIGATION TO WITHHOLD UNDER SUBDIVISION 12-F (DIVIDEND, INTEREST AND ROYALTY PAYMENTS)
12A-10(1)
If the entity that receives a payment as mentioned in subsection 12-215(1) , 12-250(1) or 12-285(1) is the trustee of an *AMIT, the entity need not withhold an amount under that subsection from the payment if the payment arises because of the operation of section 12A-205 (deemed payments).
Subsection (3) applies if:
(a) the entity that receives a payment as mentioned in subsection 12-215(1) , 12-250(1) or 12-285(1) is a *custodian; and
(b) it received the payment from an *AMIT. 12A-10(3)
The entity need not withhold an amount under that subsection from the payment mentioned in that subsection if:
(a) the payment arises because of the operation of section 12A-205 (deemed payments); or
(b) the payment is a *post-AMMA actual payment in respect of a payment that so arises.
Disregard this section for the purposes of section 12A-15 .
View history note
Hide history noteNote: See section 3AA .
Chapter 2 - Collection, recovery and administration of income taxIf the entity that receives a payment as mentioned in subsection 12-215(1) , 12-250(1) or 12-285(1) is the trustee of an *AMIT, the entity need not withhold an amount under that subsection from the payment if the payment arises because of the operation of section 12A-205 (deemed payments).
Note:
The trustee may have to pay the Commissioner an amount in respect of the deemed payment (see Subdivision 12A-C ).
12A-10(2)Subsection (3) applies if:
(a) the entity that receives a payment as mentioned in subsection 12-215(1) , 12-250(1) or 12-285(1) is a *custodian; and
(b) it received the payment from an *AMIT. 12A-10(3)
The entity need not withhold an amount under that subsection from the payment mentioned in that subsection if:
(a) the payment arises because of the operation of section 12A-205 (deemed payments); or
(b) the payment is a *post-AMMA actual payment in respect of a payment that so arises.
Note:
Either or both of the trustee of the AMIT concerned and the custodian may have to pay the Commissioner an amount in respect of the deemed payment (see Subdivision 12A-C ).
12A-10(4)Disregard this section for the purposes of section 12A-15 .
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