Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_1:p14
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 14/21)
Character Range: 42246–44940

Commissioner may exempt from section 12‑330, subject to conditions

Mining on Aboriginal land

12‑320  Mining payment

 (1) An entity must withhold an amount from a *mining payment that:
 (a) it makes to another entity; or
 (b) it applies for the benefit of another entity.

 (2) Subsection (1) does not require the entity:
 (a) to withhold an amount if no *mining withholding tax is payable in respect of the *mining payment; or
 (b) to withhold more than the mining withholding tax payable in respect of the mining payment.

Note: Section 128V of the Income Tax Assessment Act 1936 deals with mining withholding tax liability.

Natural resources

12‑325  Natural resource payment

 (1) An entity must withhold an amount from a payment it makes to a foreign resident, or to 2 or more entities at least one of which is a foreign resident, if the payment is worked out wholly or partly by reference to the value or quantity of *natural resources produced or recovered in Australia.

 (2) The amount to be withheld is:
 (a) the amount notified by the Commissioner under section 12‑330; or
 (b) the amount worked out under a certificate in force under section 12‑335 that covers the payment;
as appropriate.

Exception

 (3) Subsection (1) does not apply if:
 (a) the Commissioner has notified the entity under section 12‑330 that the entity does not need to withhold an amount from the payment; or
 (b) a certificate in force under section 12‑335 covers the payment and does not require the entity to withhold an amount from it.

12‑330  Payer must ask Commissioner how much to withhold

 (1) An entity must not, intentionally or recklessly, make a payment from which section 12‑325 requires it to withhold an amount, unless:
 (a) the entity has notified the Commissioner in writing of the amount of the proposed payment; and
 (b) the Commissioner has later notified the entity in writing of the amount (if any) that the entity must withhold from the payment in respect of tax that is or may become payable by a foreign resident to whom the payment is made;
or the payment is covered by a certificate in force under section 12‑335.

Penalty: 20 penalty units.

Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.

Failure to notify not an offence against section 8C

 (2) An entity that fails to notify the Commissioner as required by subsection (1) does not commit an offence against section 8C.

12‑335  Commissioner may exempt from section 12‑330, subject to conditions

 (1) The Commissioner may give an entity a written certificate exempting the entity from complying with section 12‑330 for specified payments.

 (2) A certificate is subject to:
 (a)