TAXATION ADMINISTRATION REGULATIONS 1976 (REPEALED)

PART 5 - PAY AS YOU GO WITHHOLDING  

Division 3 - Payments in respect of which ABNs or TFNs not quoted and Part VA investment payments  

REGULATION 35   PART VA INVESTMENT PAYMENTS BELOW CERTAIN THRESHOLDS (ACT S 12-140 AND 12-145 OF SCHEDULE 1)  

35(1)    
An amount is not required to be withheld from a payment mentioned in regulation 34 if:

(a) the payment is not a payment in relation to an investment mentioned in item 6 (shares in a public company) in the table in subsection 202D(1) of the Income Tax Assessment Act 1936 ; and

(b) the payment is to be made to an investor:

(i) who had not turned 16 on the 1 January before the date on which the payment was made; and

(ii) about whose age the investment body is aware; and

(c) the amount of the payment is less than:

(i) in the case of a payment in respect of the whole of a financial year - $420; and

(ii) in any other case - an amount worked out using the formula:

P × $420   365

where:
P is the number of days in the period in the financial year in respect of which the amount is payable.

35(2)    
If a payment mentioned in regulation 34:

(a) is not of the kind described in subregulation (1); and

(b) is in respect of an investment of a kind mentioned in item 1 or 2 in the table in subsection 202D(1) of the Income Tax Assessment Act 1936 ; and

(c) is an amount of less than:

(i) in the case of a payment in respect of the whole of a financial year - $120; and

(ii) in any other case - the amount worked out using the formula:

P × $120   365

where:
P is the number of days in the period in the financial year in respect of which the amount is payable;

an amount is not required to be withheld from the payment.