Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p54
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 54/63)
Character Range: 473358–476138

entities may be required to give notices etc. to recipients of such deemed payments.

Table of sections

Operative provisions
12A‑105 Deemed payments—no obligation to withhold under Subdivision 12‑H
12A‑110 Meaning of fund payment—AMITs

Operative provisions

12A‑105  Deemed payments—no obligation to withhold under Subdivision 12‑H
 (1) The trustee mentioned in subsection 12‑385(1) need not withhold an amount under that subsection from the payment mentioned in that subsection if the payment arises because of the operation of section 12A‑205 (deemed payments).
Note: The trustee may have to pay the Commissioner an amount in respect of the deemed payment (see Subdivision 12A‑C).
 (2) The *custodian mentioned in subsection 12‑390(1) need not withhold an amount under that subsection from the later payment mentioned in that subsection if:
 (a) the later payment arises because of the operation of section 12A‑205 (deemed payments); or
 (b) the later payment is a *post‑AMMA actual payment in respect of a payment of a kind mentioned in paragraph (a).
Note: Either or both of the trustee of the AMIT concerned and the custodian may have to pay the Commissioner an amount in respect of the deemed payment (see Subdivision 12A‑C).
 (3) The entity mentioned in subsection 12‑390(4) need not withhold an amount under that subsection from the payment mentioned in that subsection if:
 (a) the payment arises because of the operation of section 12A‑205 (deemed payments); or
 (b) the payment is a *post‑AMMA actual payment in respect of a payment of a kind mentioned in paragraph (a).
Note: The entity may have to pay the Commissioner an amount in respect of the deemed payment (see Subdivision 12A‑C).
 (4) Disregard this section for the purposes of section 12‑395.

12A‑110  Meaning of fund payment—AMITs
 (1) This section applies to a trust that is an *AMIT for an income year.
 (2) The object of this section is to ensure that the total of the *fund payments that the trustee of the *AMIT makes in relation to the income year equals, as nearly as practicable, the amount mentioned in subsection (3).
 (3) The amount is the sum of the following amounts:
 (a) total of the *determined member components for the *AMIT for the income year of a character relating to assessable income, disregarding determined member components (the excluded components) of any of the following characters:
 (i) the character of a *discount capital gain from a *CGT asset that is not *taxable Australian property;
 (ii) the character of a *capital gain (other than a discount capital gain) from a CGT asset that is not taxable Australian property;
 (iii) the character of a dividend (as defined in Division 11A of Part III of the Income Tax Assessment Act 1936) that is subject to, or exempted from,