Document ID: chunk:federal_register_of_legislation:C2008A00032:clause:1_3:p3
Version: federal_register_of_legislation:C2008A00032
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 3/4)
Character Range: 18375–20989

relation to the income year.
 (3) The expected *net income of the trust and the expected amounts of future *fund payments are to be worked out on the basis of the trustee's knowledge when the actual payment is made.

 (4) However, an amount is not a fund payment in relation to the income year unless it is paid:
 (a) during the income year; or
 (b) within 3 months after the end of the income year; or
 (c) within a longer period (starting at the end of the period referred to in paragraph (b) and not exceeding 3 months) allowed by the Commissioner.

 (5) The Commissioner may allow a longer period as mentioned in paragraph (4)(c) only if the Commissioner is of the opinion that the trustee was unable to make the payment during the income year, or within 3 months after the end of the income year, because of circumstances beyond the influence or control of the trustee.

12‑410  Entity to whom payment is made

 (1) An entity (the recipient) is covered by this section for a payment made to it by another entity (the payer) if:
 (a) according to any record that is in the payer's possession, or is kept or maintained on the payer's behalf, the recipient has an address outside Australia; or
 (b) the payer is authorised to make the payment to a place outside Australia.

 (2) However, a recipient is not covered by this section for a payment if, at the time the payment was made, a *business the recipient carries on is carried on at or through an *Australian permanent establishment and the payment is attributable to that establishment.

12‑415  Failure to give notice or make information available: administrative penalty

  An entity that:
 (a) is required to give a notice, or make details available on a website, under section 12‑395 in relation to:
 (i) a payment made to another entity; or
 (ii) an amount paid or credited to, or dealt with on behalf of or as directed by, another entity; and
 (b) fails to comply with that section;
is liable to pay to the Commissioner a penalty equal to the amount that would have been required to be withheld under this Subdivision (disregarding subsection 12‑385(5) and paragraph 12‑390(10)(b)) in relation to amounts attributable to the payment or amount if the notice had been given or the details had been made available.

Note: Division 298 in this Schedule contains machinery provisions for administrative penalties.

12‑420  Agency rules

 (1) This section applies to:
 (a) a payment (the first payment) made to an entity (the first entity) in the capacity as *agent for another entity; and
 (b) another payment made by the first entity to the extent that