TAXATION ADMINISTRATION REGULATIONS 1976 [REPEALED]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 37   CERTAIN PAYMENTS FOR WHICH TFNs NOT QUOTED  

37(1)  
This regulation applies to a payment if:


(a) a provision of Subdivision 12-B (except section 12-55), 12-C or 12-D of Schedule 1 to the Act requires an amount to be withheld from the payment; and


(b) the recipient of the payment does not provide the payer with a TFN declaration that has effect under Division 3 of Part VA of the Income Tax Assessment Act 1936 .

37(2)  
The amount to be withheld from the payment is:


(a) if the recipient of the payment is a prescribed foreign resident - an amount equal to the product of the highest rate specified in the table in Part II of Schedule 7 to the Income Tax Rates Act 1986 and the amount of the payment; and


(b) if the recipient of the payment is not a prescribed foreign resident - an amount equal to the product of the top rate and the amount of the payment.

Note:

For top rate , see regulation 2 .

37(3)  
(Repealed by SLI No 189 of 2010)




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