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 12A - Distributions by AMITs (including deemed payments)  

Subdivision 12A-A - Distributions by AMITs relating to dividend, interest and royalties  

Operative provisions

SECTION 12A-40   MEANING OF AMIT ROYALTY PAYMENT  

12A-40(1)  
This section applies to a trust that is an *AMIT for an income year.

12A-40(2)  
The object of this section is to ensure that the total of the *AMIT royalty payments that the trustee of the *AMIT makes in relation to the income year equals, as nearly as practicable, the amount mentioned in subsection (3).

12A-40(3)  
The amount is the total of the *determined member components for the *AMIT for the income year of the character of a *royalty that is subject to a requirement to withhold under Subdivision 12-F .

12A-40(4)  
To work out the amount of an AMIT royalty payment , apply subsections 12A-30(4) , (5) , (6) and (7) . For this purpose:


(a) treat references in those subsections to AMIT dividend payments as instead being references to AMIT royalty payments; and


(b) treat the reference in subsection 12A-30(4) to " the amount mentioned in subsection (3) " as instead being a reference to " the amount mentioned in subsection 12A-40(3) " .


 

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.