PAYG Withholding variation for foreign resident capital gains withholding payments - income tax exempt entities
Reference: Variation 55
Document type: PAYG Withholding Variation
Enabling act: Taxation Administration Act 1953
Date of issue: 9 March 2017
Signatory: Emma Rosenzweig Deputy Commissioner of Taxation
Registration number: F2017L00390
Registration date: 6 April 2017

I, Emma Rosenzweig, Deputy Commissioner of Taxation, make this variation under subsection 14-235(5) of Schedule 1 to the Taxation Administration Act 1953.

1. Name of instrument: This instrument is the PAYG Withholding variation for foreign resident capital gains withholding payments - income tax exempt entities. | 2. Commencement: This instrument commences on the day after its registration on the Federal Register of Legislative Instruments. | 3. Application: This instrument applies to payments covered by section 14-200 of Schedule 1 to the Taxation Administration Act 1953, where the entity provides to the purchaser: (i) evidence of a private binding ruling issued by the Australian Taxation Office confirming that the entity is income tax exempt that is valid for the year in which the transaction is occurring; or (ii) documentation showing that the entity is endorsed for income tax exemption as a registered charity under item 1.1 of section 50-5 of the Income Tax Assessment Act 1997. (i) evidence of a private binding ruling issued by the Australian Taxation Office confirming that the entity is income tax exempt that is valid for the year in which the transaction is occurring; or (ii) documentation showing that the entity is endorsed for income tax exemption as a registered charity under item 1.1 of section 50-5 of the Income Tax Assessment Act 1997. | 4. Amount to be withheld: The amount to be paid to the Commissioner in relation to transactions covered by this instrument is varied to nil. Definitions Income tax exempt entity - exempt entity is defined under subsection 995-1(1) of the Income Tax Assessment Act 1997 (ITAA 1997) which means an entity all of whose *ordinary income and *statutory income is exempt from income tax because of this Act or because of another *Commonwealth law, no matter what kind of ordinary income or statutory income the entity might have; or an *untaxable Commonwealth entity. Other terms used in this legislative instrument have the same meaning as defined in the: • Income Tax Assessment Act 1997, or • Taxation Administration Act 1953 • Income Tax Assessment Act 1997, or • Taxation Administration Act 1953