Commonwealth Numbered Regulations

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TAXATION ADMINISTRATION REGULATIONS 2017 (F2017L01227) - REG 35

Part VA investment payments

             (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.



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