Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:1_1:p8
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 8/27)
Character Range: 25420–28069

the *AMIT is to be assessed and is liable to pay income tax:
 (a) if subparagraph (1)(b)(i) applies and the *member is not a company—in respect of the amount mentioned in subsection (3) as if it were the income of an individual and were not subject to any deduction; or
 (b) if subparagraph (1)(b)(i) applies and the member is a company—in respect of the amount mentioned in subsection (3) at the rate declared by the Parliament for the purposes of this paragraph; or
 (c) if subparagraph (1)(b)(ii) applies—in respect of the amount mentioned in subsection (4) or (5) at the rate declared by the Parliament for the purposes of this paragraph.
Note: The rates are set out in the following provisions:
(a) for paragraph (a)—subsection 12(6A) of the Income Tax Rates Act 1986 and Schedule 10A to that Act;
(b) for paragraph (b)—paragraph 28A(a) of that Act;
(c) for paragraph (c)—paragraph 28A(b) of that Act.
 (3) The amount is the *determined member component, to the extent that the component:
 (a) is attributable to a period when the *member was an Australian resident; or
 (b) is attributable to a period when the member was not an Australian resident and is attributable to sources in Australia.
 (4) The amount is the *determined member component, to the extent that the component is attributable to sources in Australia.
 (5) For the purposes of subsection (4), treat the entire amount of the *determined member component as not being attributable to sources in Australia if it is of the character of:
 (a) a *discount capital gain from a *CGT asset that is not *taxable Australian property; or
 (b) a *capital gain (other than a discount capital gain) from a CGT asset that is not taxable Australian property.

Exception for component reflected in AMIT DIR payment or fund payment
 (6) Subsection (2) does not apply to the extent that the *determined member component is reflected in an *AMIT DIR payment or a *fund payment, if an amount in respect of the payment:
 (a) has been withheld from the payment under Subdivision 12‑F or 12‑H in Schedule 1 to the Taxation Administration Act 1953; or
 (b) would be so withheld apart from an exemption from a requirement to withhold under Subdivision 12‑F in that Schedule; or
 (c) has been paid under Division 12A in that Schedule; or
 (d) would be so paid apart from an exemption from a requirement to withhold under Subdivision 12‑F in that Schedule.

Gross‑up for discount capital gain
 (7) Subsection (8) applies if a *determined member component is of the character of:
 (a) a *discount capital gain from a *CGT asset that is *taxable Australian property; or
 (b) a discount capital gain from a