Document ID: chunk:federal_register_of_legislation:C2004A00662:clause:1_56
Version: federal_register_of_legislation:C2004A00662
Segment Type: clause
Provision Reference: sch 1 cl 56
Character Range: 72061–72556

56  Subsection 45‑120(3) in Schedule 1
Repeal the subsection, substitute:

Exclusion: amounts in respect of withholding payments

 (3) Your instalment income for a period does not include amounts in respect of:
 (a) *withholding payments (except *non‑quotation withholding payments) made to you during that period; and
 (b) amounts included in your assessable income under section 86‑15 of the Income Tax Assessment Act 1997 for which there are *amounts required to be paid under Division 13.