TAXATION ADMINISTRATION REGULATIONS 1976 [REPEALED]
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.
For top rate , see regulation 2 .
(Repealed by SLI No 189 of 2010)
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