Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p10
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 10/63)
Character Range: 364786–367324

at the end of an income year of a trust, a beneficiary of the trust is presently entitled, for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936, to a share of the income of the trust of that year; and
 (b) paragraph 12‑175(1)(c) in this Schedule applies to the trustee of the trust; and
 (c) paragraph 12‑175(1)(d) applies to the beneficiary.

Trustee must withhold
 (2) The trustee must withhold an amount from that share of the *net income of the trust, if:
 (a) the beneficiary did not *quote the beneficiary's *tax file number to the trustee before the end of the year; and
 (b) the trustee is not liable to pay tax in respect of that share under section 98 of the Income Tax Assessment Act 1936; and
 (c) the trustee is not required to make a correct TB statement about that share under Division 6D of Part III of that Act (about trustee beneficiary non‑disclosure tax); and
 (d) family trust distribution tax is not payable on that share of the income of the trust under Schedule 2F to that Act.
Note 1: If the trust is a unit trust, the trustee may be required to withhold under section 12‑145 in priority to this section: see section 12‑5.
Note 2: The trustee commits an offence if the trustee fails to withhold an amount as required by this section: see section 16‑25.

Application of rest of Part
 (3) This Part (other than section 12‑175) applies as if the trustee had paid that share of the *net income of the trust to the beneficiary at the end of the income year.

Entitlements already paid
 (4) Subsections (2) and (3) do not apply to that share of the *net income of the trust to the extent that the trustee distributed any of that share to the beneficiary during the income year.
Note: The trustee may have been required to withhold from that distribution under section 12‑175.

Trusts that end during the year
 (5) This section applies as if each reference to the end of an income year were a reference to the time occurring just before the trust ends, if the trust ends during the income year.

12‑185  Exception for payments below thresholds set by regulations
 (1) Section 12‑175 or 12‑180 does not require an amount to be withheld if the payment (including the payment mentioned in subsection 12‑180(3)) is less than the amount worked out under the regulations.
 (2) Regulations made for the purposes of this section may deal differently with different payments.

Payment for a supply

12‑190  Recipient does not quote ABN
 (1) An entity (the payer) must withhold an amount from a payment