Document ID: chunk:federal_register_of_legislation:C2004C01086:clause:1_1:p1
Version: federal_register_of_legislation:C2004C01086
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 1/4)
Character Range: 22785–25552

1  Section 14‑15
Repeal the link note, substitute:

Division 15—Working out the amount to withhold

Table of Subdivisions

 Guide to Division 15

15‑A Working out how much to withhold

15‑B Withholding schedules and regulations

15‑C Declarations

Guide to Division 15

15‑1  What this Division is about

       This Division is mainly about how to work out how much an entity must withhold under Division 12.
       In most cases, the entity will need to use either the Commissioner's withholding schedules or the regulations.
       The entity will also need to take into account a TFN declaration or declaration under section 15‑50 it has been given because, under the schedules and regulations, the declaration may affect how to calculate the amount to withhold.
       This Division also deals with when an individual can make such a declaration (other than a TFN declaration) so as to change the amount that must be withheld from payments to the individual.
Subdivision 15‑A—Working out how much to withhold

Table of sections

15‑10 How much to withhold
15‑15 Variation of amounts required to be withheld

15‑10  How much to withhold

 (1) The amount that Subdivision 12‑B, 12‑C or 12‑D requires to be withheld from a payment is to be worked out under the withholding schedules made under section 15‑25. However, if the regulations prescribe how the amount is to be worked out, then it is to be worked out under the regulations.

Note 1: A TFN declaration, declaration under section 15‑50 or voluntary agreement may affect how much is required to be withheld under the withholding schedules or regulations.

Note 2: The Commissioner may vary an amount required to be withheld. See section 15‑15.

 (2) The amount that Subdivision 12‑E, 12‑F or 12‑G (except one covered by section 12‑325) requires to be withheld from a payment is to be worked out under the regulations.

Note 1: The amount that section 12‑325 requires to be withheld is worked out under that section.

Note 2: The Commissioner may vary an amount required to be withheld. See section 15‑15.

15‑15  Variation of amounts required to be withheld

 (1) The Commissioner may, for the purposes of meeting the special circumstances of a particular case or class of cases, vary the *amount required to be withheld by an entity from a *withholding payment (except a withholding payment covered by section 12‑140 or 12‑145). If the Commissioner does so, the amount is varied accordingly.

Note: Section 12‑140 is about a payment arising from an investment where the recipient does not quote its tax file number (or, in some cases, its ABN). Section 12‑145 is about an investor becoming presently entitled to income of a unit trust.

 (2) The Commissioner's power to vary an amount includes the