Commonwealth Numbered Regulations

TAXATION ADMINISTRATION REGULATIONS 2017 (F2017L01227) - REG 37

                   The amount to be withheld by a trustee of a closely held trust from a beneficiary's share of the net income of the trust under subsection 12-180(2) in Schedule 1 to the Act, is the product of the amount of the beneficiary's share of the net income of the trust and the top rate.

Note 1:       The amount of an entitlement in a financial year is affected by the operation of subsection 12-180(4) in Schedule 1 to the Act.

Note 2:       For the threshold for withholding, see section 30.