Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) This section is made for the purposes of section 12-185 in Schedule 1 to the Act.
(2) An amount is not required to be withheld under section 12-175 or 12-180 in Schedule 1 to the Act from a payment (including a payment mentioned in subsection 12-180(3)) if the payment is less than:
(a) if the payment is for the whole of a financial year--$120; or
(b) if the payment is for part of a financial year--the amount worked out using the formula:
where:
number of days in period is the number of days in the period in the financial year in respect of which the amount is payable.
number of days in year is the number of days in the financial year.
