PAYG Withholding variation for foreign resident capital gains withholding payments - deceased estates and legal personal representatives
Reference: Variation 48
Document type: PAYG Withholding Variation
Enabling act: Taxation Administration Act 1953
Date of issue: 15 August 2016
Signatory: Steve Vesperman Deputy Commissioner of Taxation
Registration number: F2016L01396
Registration date: 6 September 2016

I, Steve Vesperman, 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 determination is the PAYG Withholding variation for foreign resident capital gains withholding payments - deceased estates and legal personal representatives. | 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, as a result of the death of an individual: (i) the legal personal representative is taken to have acquired the relevant asset following the death of the individual; (ii) a beneficiary obtains ownership of the relevant asset by way of direct transfer from the deceased or by transfer from the legal personal representative of the deceased; or (iii) a surviving joint tenant acquires the deceased joint tenant's interest in the relevant asset. (i) the legal personal representative is taken to have acquired the relevant asset following the death of the individual; (ii) a beneficiary obtains ownership of the relevant asset by way of direct transfer from the deceased or by transfer from the legal personal representative of the deceased; or (iii) a surviving joint tenant acquires the deceased joint tenant's interest in the relevant asset. | 4. Determination: The amount to be paid to the Commissioner in relation to transactions covered by this instrument is varied to nil. | 5. Definitions: Where individuals own the relevant asset as joint tenants, their percentage interests are as defined in section 108-7 of the Income Tax Assessment Act 1997. 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.