Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-5 - PAY AS YOU GO (PAYG) WITHHOLDING  

Division 14 - Benefits, gains and taxable supplies for which amounts must be paid to the Commissioner  

Subdivision 14-D - Capital proceeds involving foreign residents and taxable Australian property  

SECTION 14-225   ENTITY DECLARATIONS  

Declaration that an entity is an Australian resident

14-225(1)  
An entity may, in writing, declare that, for a specified period, the entity is and will be an Australian resident.

Note:

Such a declaration could result in you not being required to pay an amount under this Subdivision (see subsection 14-210(3) ).

Declaration that asset not an indirect Australian real property interest

14-225(2)  
An entity may, in writing, declare that, for a specified period, specified *CGT assets are *membership interests but not *indirect Australian real property interests.

Note:

Such a declaration could result in you not being required to pay an amount under this Subdivision (see subsection 14-210(3) ).

Limit on the periods for which declarations have effect

14-225(3)  
A period specified in a declaration under this section is of no effect to the extent that it includes days later than 6 months after the day the declaration is made. Declarations are not legislative instruments

14-225(4)  
A declaration under this section is not a legislative instrument.


 

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