Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_1:p17
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 17/21)
Character Range: 49516–52345

section, the payer is entitled to set the amount off against debts due by the payer to the other entity.

[The next Division is Division 16.]

Division 16—Payer's obligations and rights

Table of Subdivisions

Guide to Division 16
 16‑A To withhold
 16‑B To pay withheld amounts to the Commissioner
 16‑C To provide information
 16‑D Additional rights and obligations of entity that makes a dividend, interest or royalty payment

Guide to Division 16

16‑1  What this Division is about

      This Division sets out the obligations and rights of an entity required to withhold an amount under Division 12, or to pay an amount to the Commissioner under Division 14.
                  Note: The entity may also have obligations under other legislation. See, for example, the obligation to keep records under section 262A of the Income Tax Assessment Act 1936.

Subdivision 16‑A—To withhold

Table of sections

When and how much to withhold

16‑5 When to withhold an amount
16‑10 How much to withhold
16‑15 Variation of amounts required to be withheld
16‑20 Payer discharged from liability to recipient for amount withheld

Penalties for not withholding

16‑25 Failure to withhold: offence
16‑30 Failure to withhold: civil penalty for entity other than exempt Australian government agency
16‑35 Failure to withhold: civil penalty for exempt Australian government agency in relation to payment other than dividend, interest or royalty
16‑40 Failure to withhold: civil penalty for exempt Australian government agency in relation to dividend, interest or royalty payment
16‑45 Remission of penalty under section 16‑30, 16‑35 or 16‑40
16‑50 General interest charge on unpaid penalty

When and how much to withhold

16‑5  When to withhold an amount

  If Division 12 requires an entity to withhold an amount from a payment, the entity must do so when making the payment.

Note 1: An entity is required to withhold an amount under section 12‑145 when an investor becomes presently entitled to income of a unit trust.

Note 2: If section 12‑215, 12‑250 or 12‑285 requires an entity to withhold an amount from a payment received by the entity, the entity must do so immediately after receiving the payment.

16‑10  How much to withhold

 (1) The amount that Division 12 requires to be withheld from a payment (except one covered by section 12‑325) is to be worked out under the regulations.

 (2) Regulations made for the purposes of this section may deal differently with different payments.

Note: The Commissioner may vary an amount required to be withheld. See section 16‑15.

16‑15  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