Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_1:p8
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 8/21)
Character Range: 27967–30492

applies to a payment in respect of an eligible deferred interest investment (as defined in subsection 221YHZA(1) of the Income Tax Assessment Act 1936) only to the extent that is covered by one or both of these paragraphs:
 (a) so much of the payment as consists of a periodic interest payment (within the meaning of Division 16E of Part III of that Act);
 (b) if the payment became payable at the end of the term (within the meaning of Division 16E of Part III of that Act) of the investment—so much of the payment as does not exceed what section 159GQ of that Act would include in the *investor's assessable income for the income year in which that term ended if the adoption (under section 18 of that Act) of an accounting period ending on a day other than 30 June were disregarded for the purposes of this paragraph and that Division.

 Note: To the extent that section 12‑140 does not apply to the payment, TFN withholding tax may be payable on it. See Subdivision C of Division 3B of Part VI of the Income Tax Assessment Act 1936.

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 *dividend that has been franked in accordance with section 160AQF of the Income Tax Assessment Act 1936; and
 (c) the franking percentage (within the meaning of section 160APA of that Act) for the