Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p6
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 6/63)
Character Range: 355369–357920

to be registered with the investment body as the *investor to be entitled to the payment.
Note: If the investment body is an AMIT, under subsection 12A‑205(2) amounts may be treated, for the purposes of this Part, as having been paid to the other entity by the investment body.

Payment in respect of units in a trust or investment‑related betting chance
 (2) If a *Part VA investment consists of:
 (a) units in a unit trust (as defined in section 202A of the Income Tax Assessment Act 1936); or
 (b) an investment‑related betting chance;
an entity (including the *investment body) must withhold an amount from a payment it makes to another entity in respect of the investment if the conditions in subsection (1) of this section are met.
For exceptions to the rules in this section, see sections 12‑150 to 12‑170.
 (3) If:
 (a) because of subsection 12A‑205(2), an entity is treated as having made a payment to another entity; and
 (b) under subsection (2) of this section, the entity has withheld an amount from that payment, and paid the amount to the Commissioner;
the entity may recover from the other entity, as a debt, the amount withheld.
 (4) The entity is entitled to set off an amount that the entity can recover from the other entity under subsection (3) against debts due by the entity to the other entity.

12‑145  Investor becoming presently entitled to income of a unit trust
 (1) This section applies if:
 (a) a *Part VA investment consists of units in a unit trust (as defined in section 202A of the Income Tax Assessment Act 1936); and
 (b) the *investor becomes presently entitled, for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936, to a share of income of the trust at a time (the entitlement time) before any of that share is paid to the investor.
 (2) The entity (including the *investment body) that would have to pay that share to the *investor if the share were due and payable at the entitlement time must withhold from the share, at that time, the amount (if any) that subsection 12‑140(2) would have required it to withhold if it had paid the share to the investor at that time.
For exceptions to the rules in this section, see sections 12‑155 to 12‑170.
 (3) This Part (except section 12‑140 and this section) applies as if that entity had paid that share to the *investor at the entitlement time.
 (4) If that entity withholds an amount from that share as required by subsection (2), subsection 12‑140(2) does not require an amount to be withheld from a payment of all or part of that share