Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)
Schedule 1 Consequential amendments etc.
Part 2 Other consequential amendments etc.
Taxation Administration Act 1953
371 Paragraphs 12-310(a) and (b) in Schedule 1
Repeal the paragraphs, substitute:
(a) to withhold an amount from a *departing Australia superannuation payment if no *withholding tax is payable in respect of the payment; or
(b) to withhold from a departing Australia superannuation payment more than the withholding tax payable in respect of the payment (reduced by each amount already withheld from it under this Subdivision).
Note: Section 301-175 of the Income Tax Assessment Act 1997 deals with the withholding tax liability.