(1) The amount to be withheld under section 12-140 or 12-145 in Schedule 1 to the Act from a payment made in respect of a Part VA investment is an amount equal to the product of the top rate and the amount of the payment.
Note: For the thresholds for withholding, see section 28.
(2) However, subsection (3) applies if:
(a) the payment from which that amount is to be withheld is a franked distribution; and
(b) the franking percentage is less than 100%.
(3) The amount to be withheld from the payment is the product of the unfranked part of the distribution and the top rate.