Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p22
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 22/43)
Character Range: 612071–614654

part of it, as is attributable to the *withholding payments.

Trust—no net income
 (8) If there is no net income of the trust for the income year, the trustee is entitled to a credit equal to the sum of the *amounts withheld from the *withholding payments.

18‑27  Tax credit for alienated personal services payments
  An entity is entitled to a credit equal to the total of the amounts paid under Division 13 in respect of amounts included in the entity's assessable income for an income year under section 86‑15 of the Income Tax Assessment Act 1997 if an assessment has been made of the income tax payable, or an assessment has been made that no income tax is payable, by the entity for the income year.

Entitlement to credits: dividend, interest or royalty, amount attributable to fund payment or labour mobility program

18‑30  Credit: dividend, interest or royalty
 (1) An entity is entitled to a credit if:
 (a) the entity's *ordinary income, or *statutory income, includes any of the following:
 (i) a *dividend (or a part of it), interest (within the meaning of Division 11A of Part III of the Income Tax Assessment Act 1936) or a *royalty;
 (ii) an amount that is represented by or reasonably attributable to an *AMIT DIR payment; and
 (b) if subparagraph (a)(i) applies—if the entity has borne all or part of an *amount withheld from the dividend, interest or royalty; and
 (c) if subparagraph (a)(ii) applies—if the entity has borne all or part of an amount paid under Division 12A in respect of the AMIT DIR payment.
 (2) The amount of the credit is that amount or part.
Note: A taxpayer may also be entitled to a credit in relation to payment of interest under, or in relation to the transfer of, a qualifying security. See section 128NBA of the Income Tax Assessment Act 1936.

18‑32  Credit: amount attributable to fund payment
 (1) An entity is entitled to a credit if:
 (a) the entity's *ordinary income or *statutory income includes an amount that is represented by or reasonably attributable to a *fund payment; and
 (b) the entity has borne all or part of:
 (i) an *amount withheld from the payment under Subdivision 12‑H; or
 (ii) an amount paid under Division 12A in respect of the fund payment.
 (2) The amount of the credit is that amount or part.
 (3) Subsection (4) applies if:
 (a) all or part of an amount (the fund payment part) is represented by a payment that is a *fund payment; and
 (b) under subsection 840‑805(4A) of the Income Tax Assessment Act 1997, a *foreign pension fund is taken, in respect of the fund payment part, to be a beneficiary in