Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p49
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 49/63)
Character Range: 460830–463787

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

Subdivision 12A‑A—Distributions by AMITs relating to dividend, interest and royalties

Guide to Subdivision 12A‑A

12A‑5  What this Subdivision is about

      Withholding liabilities under Subdivision 12‑F do not apply in relation to deemed payments arising under Subdivision 12A‑C relating to dividends, interest or royalties (although analogous liabilities may arise under Subdivision 12A‑C).
      AMIT trustees, custodians and other entities may be required to give notices etc. to recipients of such deemed payments.

Table of sections

Operative provisions
12A‑10 Deemed payments—no obligation to withhold under Subdivision 12‑F (dividend, interest and royalty payments)
12A‑15 Dividend, interest or royalty payments relating to AMIT—requirement to give notice or make information available
12A‑20 Failure to give notice or make information available under section 12A‑15: administrative penalty
12A‑25 Meaning of AMIT DIR payment
12A‑30 Meaning of AMIT dividend payment
12A‑35 Meaning of AMIT interest payment
12A‑40 Meaning of AMIT royalty payment

Operative provisions

12A‑10  Deemed payments—no obligation to withhold under Subdivision 12‑F (dividend, interest and royalty payments)
 (1) If the entity that receives a payment as mentioned in subsection 12‑215(1), 12‑250(1) or 12‑285(1) is the trustee of an *AMIT, the entity need not withhold an amount under that subsection from the payment 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) Subsection (3) applies if:
 (a) the entity that receives a payment as mentioned in subsection 12‑215(1), 12‑250(1) or 12‑285(1) is a *custodian; and
 (b) it received the payment from an *AMIT.
 (3) The entity 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 that so arises.
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).
 (4) Disregard this section for the purposes of section 12A‑15.

12A‑15  Dividend, interest or royalty payments relating to AMIT—requirement to give notice or make information available

AMITs and custodians
 (1) An entity that is an *AMIT or a *custodian must comply with subsection (2) if:
 (a) the entity makes a payment to another entity (the recipient) from which an amount would have been required to be withheld under Subdivision 12‑F if:
 (i) the entity were a company; and
 (ii) the payment had been made to a foreign resident; and
 (iii) the condition in either