Taxation Administration Regulations 2017

PART 3 - INCOME TAX (CHAPTER 2 IN SCHEDULE 1 TO THE ACT)  

Division 3 - Pay as you go (PAYG) withholding - Working out the amount to withhold  

Subdivision EA - Withholding amounts for Subdivision 12-J  

SECTION 53A   FHSS RELEASED AMOUNTS  

53A(1)    
The amount to be withheld under section 12-460 in Schedule 1 to the Act from the FHSS released amounts paid in respect of an individual is:

(a)    the amount of tax that the Commissioner estimates will be payable by the individual in relation to the individual ' s assessable FHSS released amount for an income year; or

(b)    if the Commissioner is unable to make an estimate under paragraph (a) - 17% of the individual ' s assessable FHSS released amount for an income year.

53A(2)    
For the purposes of this section, the Commissioner may have regard to any information that the Commissioner considers relevant.