Document ID: chunk:federal_register_of_legislation:C2012C00706:clause:1_14:p1
Version: federal_register_of_legislation:C2012C00706
Segment Type: clause
Provision Reference: sch 1 cl 14 (pt 1/11)
Character Range: 15923–18921

14  At the end of Division 18 in Schedule 1
Add:

Subdivision 18‑D—Directors etc. of non‑complying companies

Table of sections

Object of Subdivision
18‑120 Object of Subdivision

PAYG withholding non‑compliance tax
18‑125 Directors of non‑complying companies
18‑130 Directors of non‑complying companies—tax reduced in certain circumstances
18‑135 Associates of directors of non‑complying companies
18‑140 Notices
18‑145 When PAYG withholding non‑compliance tax must be paid
18‑150 General interest charge payable on unpaid PAYG withholding non‑compliance tax
18‑155 Validity of decisions and evidence
18‑160 Rights of indemnity and contribution

Credits for later compliance
18‑165 Credits for later compliance—scope
18‑170 Credits for later compliance—Commissioner must give notice in certain circumstances
18‑175 Credits for later compliance—Commissioner may give notice
18‑180 Effect of earlier credits

Other provisions
18‑185 When Commissioner may give notice
18‑190 Review of decisions

Object of Subdivision

18‑120  Object of Subdivision
  The object of this Subdivision is to reverse the economic benefit of a credit under section 18‑15 (Tax credit for recipient of withholding payment) of a director, or an *associate of a director, of a company if:
 (a) the company does not comply with its obligations under subsection 16‑70(1) (obligation to pay amounts withheld to the Commissioner); and
 (b) the credit is attributable to *amounts withheld from *withholding payments made by the company to the director or associate;
until the company complies with its obligations.

PAYG withholding non‑compliance tax

18‑125  Directors of non‑complying companies

Liability to pay PAYG withholding non‑compliance tax
 (1) An individual must pay *PAYG withholding non‑compliance tax in relation to a company for an income year of the individual if:
 (a) the individual is or has been a director (within the meaning of the Corporations Act 2001) of the company; and
 (b) the company was required to pay to the Commissioner under subsection 16‑70(1) in this Schedule amounts:
 (i) the company withheld from *withholding payments the company made to any entities during the income year of the individual; and
 (ii) to which subsection (2) applies; and
 (c) the company did not pay the total of those amounts to the Commissioner on or before the last day (the non‑compliance day) on or before which the company was required to pay any of those amounts to the Commissioner in accordance with subsection 16‑70(1); and
 (d) a credit to which the individual is entitled under section 18‑15 is attributable to an extent to *amounts withheld by the company under Division 12 from withholding payments made to the individual during the income year of the individual.
Note: For the purposes of paragraph (1)(d), it does not matter whether the company pays the amounts withheld from the withholding payments made to the individual to the Commissioner under subsection 16‑70(1).
 (2) This subsection applies to