TAXATION ADMINISTRATION ACT 1953
Note: See section 3AA .Chapter 2 - Collection, recovery and administration of income tax
A withholding MIT may be required to withhold an amount from a payment of its Australian sourced net income (other than dividends, interest and royalties) if the payment is made to an entity whose address, or place for payment, is outside Australia. If the payment is made to another entity, the withholding MIT is required to make information available to the recipient outlining certain details in relation to the payment.
If a custodian receives a payment that is covered by that information, it is required to withhold an amount from any related later payment to an entity whose address, or place for payment, is outside Australia. If the later payment is made to another entity, the custodian is required to make information available in relation to that later payment.
If an entity that is not a custodian receives a payment that is covered by that information, it is required to withhold an amount from that payment if a foreign resident becomes entitled to that payment. If a resident becomes entitled to the payment, the entity must make information available in relation to that payment.
Where there is an obligation to withhold, the applicable withholding rate is determined by the nature of the country or territory in which the recipient ' s address, place for payment or residency is located and whether the trust is a clean building managed investment trust.
A managed investment trust is a clean building managed investment trust if it is a managed investment trust that holds one or more clean buildings and does not derive assessable income from any other taxable Australian property (other than certain assets that are reasonably incidental to a clean building).
|12-383||Meaning of withholding MIT|
|12-385||Withholding by withholding MITs|
|12-390||Withholding by custodians and other entities|
|12-395||Requirement to give notice or make information available|
|12-400||(Repealed by No 53 of 2016)|
|12-401||(Repealed by No 53 of 2016)|
|12-402||(Repealed by No 53 of 2016)|
|12-402A||(Repealed by No 53 of 2016)|
|12-402B||(Repealed by No 53 of 2016)|
|12-403||(Repealed by No 53 of 2016)|
|12-404||(Repealed by No 53 of 2016)|
|12-405||Meaning of fund payment - general case|
|12-410||Entity to whom payment is made|
|12-415||Failure to give notice or make information available: administrative penalty|
|12-425||Meaning of clean building managed investment trust|
|12-430||Meaning of clean building|
|12-435||Meaning of non-concessional MIT income|
|12-436||Meaning of asset entity, operating entity, cross staple arrangement and stapled entity|
|12-437||Meaning of MIT cross staple arrangement income|
|12-438||MIT cross staple arrangement income - de minimis exception|
|12-439||MIT cross staple arrangement income - approved economic infrastructure facility exception|
|12-440||Transitional - MIT cross staple arrangement income|
|12-441||Integrity rule - concessional cross staple rent cap|
|12-442||Meaning of excepted MIT CSA income|
|12-443||Concessional cross staple rent cap - existing lease with specified rent or rent method|
|12-444||Concessional cross staple rent cap - general|
|12-445||Asset entity to allocate deductions first against rental income that is not MIT cross staple arrangement income|
|12-446||Meaning of MIT trading trust income|
|12-447||Transitional - MIT trading trust income|
|12-448||Meaning of MIT agricultural income , Australian agricultural land for rent and Division 6C land|
|12-449||Transitional - MIT agricultural income|
|12-450||Meaning of MIT residential housing income|
|12-451||Transitional - MIT residential housing income|
|12-452||Meaning of residential dwelling asset|
|12-453||MIT agricultural income and MIT residential housing income - capital gains in relation to membership interests|
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.