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Edited version of your private ruling
Authorisation Number: 1012591285555
Ruling
Subject: Managed Investment Trusts
Question
Is the entity an entity that is covered by the requirements under paragraph 12-402(3)(f) of Schedule 1 of Tax Administration Act 1953 (TAA 1953) (relevantly, is POBA a foreign superannuation fund)?
Answer
Yes
This ruling applies for the following periods:
Year ended 30 June 2014
Year ended 30 June 2015
Year ended 30 June 2016
Year ended 30 June 2017
Year ended 30 June 2018
The scheme commences on:
1 July 2013
Relevant facts and circumstances
The PBR relates to a foreign superannuation fund
Relevant legislative provisions
Taxation Administration Act 1953 Paragraph 12-402(3)(f)(i)
Income Tax Assessment Act 1997 Subsection 118-520(2)
Income Tax Assessment Act 1997 Subsection 995-1(1)
Reasons for decision
Subdivision 12-H of Schedule 1 to the TAA 1953 deals with 'Pay As You Go' withholding obligations for distributions of managed investment trust income.
Section 12-402 of Schedule 1 of the TAA 1953 establishes the widely held requirements for the entities included in the section. Subsection 12-402(3) of Schedule 1 of TAA 1953 lists the kinds of entity that are covered by the section.
The entity is an entity that is covered by the requirements under paragraphs 12-402(3)(f)(i) and (ii) of Schedule 1 of TAA 1953.