Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p8
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 8/63)
Character Range: 360023–362623

12‑140 does not apply to the payment to the extent that it covers either or both of the following:
 (a) a *pre‑AMMA actual payment from which section 12‑140 has required an amount to be withheld;
 (b) a payment that is treated under section 12A‑205 as having been made from which section 12‑140 has required an amount to be withheld.

12‑155  When investor may quote ABN as alternative
  Section 12‑140 or 12‑145 does not require an amount to be withheld if:
 (a) the other entity made the investment in the course or furtherance of an *enterprise *carried on by it; and
 (b) the other entity has an *ABN, and has *quoted it to the investment body, by the time referred to in paragraph 12‑140(1)(b) or (c).

12‑160  Investment body unaware that exemption from quoting TFN has stopped applying
  Section 12‑140 or 12‑145 does not require an amount to be withheld if:
 (a) a provision of Division 5 of Part VA of the Income Tax Assessment Act 1936 has applied to the other entity in relation to the investment, but no longer applies when the payment is made; and
 (b) when the payment is made, the *investment body has not been informed of anything that resulted in the provision no longer applying.
Note: Division 5 of Part VA of that Act provides, in certain cases, that even though an entity has not quoted its tax file number it is taken to have done so.

12‑165  Exception for fully franked dividend
  Section 12‑140 does not require an amount to be withheld if:
 (a) the investment consists of *shares in a public company (as defined in section 202A of the Income Tax Assessment Act 1936); and
 (b) the payment is a *distribution that has been franked in accordance with section 202‑5 of the Income Tax Assessment Act 1997; and
 (c) the *franking percentage for the distribution is 100%.

12‑170  Exception for payments below thresholds set by regulations
 (1) Section 12‑140 or 12‑145 does not require an amount to be withheld if the payment is less than the amount worked out under the regulations.
 (2) Regulations made for the purposes of this section may deal differently with different payments.

Payment of income of closely held trust where TFN not quoted

12‑175  Trustee distributes income of closely held trust

         Scope
 (1) This section applies if:
 (a) the trustee of a trust makes a distribution to a beneficiary of the trust at a time (the distribution time) during an income year of the trust; and
 (b) some or all of the distribution is from the *ordinary income or *statutory income of the trust; and
 (c) the trust is:
 (i) a resident trust estate (within the meaning of