Tax Laws Amendment (2010 Measures No. 2) Act 2010 (75 of 2010)

Schedule 2   Extending the TFN withholding arrangements to closely held trusts, including family trusts

Part 1   Main amendments

Taxation Administration Act 1953

8   Subsection 15-15(1) in Schedule 1 (note)

Repeal the note, substitute:

Note 1: Section 12-140 is about a payment arising from an investment where the recipient does not quote its tax file number (or, in some cases, its ABN).

Note 2: Sections 12-175 and 12-180 are about a payment of the income of a closely held trust to a beneficiary, where the beneficiary does not quote the beneficiary's tax file number.

Note 3: Section 12-145 is about an investor becoming presently entitled to income of a unit trust.

Note 4: Subdivision 12-H is about distributions of managed investment trust income.