Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_1:p7
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 7/21)
Character Range: 25568–28197

*statutory income of the other entity; and
 (b) if the investment is non‑transferable—the other entity did not *quote its *tax file number in connection with the investment before the time when the payment became payable; and
 (c) if the investment is transferable—the other entity did not quote its tax file number in connection with the investment before the time when the other entity had to be registered with the investment body as the *investor to be entitled to the payment.

Payment in respect of units in a trust or investment‑related betting chance

 (2) If a *Part VA investment consists of:
 (a) units in a unit trust (as defined in section 202A of the Income Tax Assessment Act 1936); or
 (b) an investment‑related betting chance;
an entity (including the *investment body) must withhold an amount from a payment it makes to another entity in respect of the investment if the conditions in subsection (1) of this section are met.

For exceptions to the rules in this section, see sections 12‑155 to 12‑170.

12‑145  Investor becoming presently entitled to income of a unit trust

 (1) This section applies if:
 (a) a *Part VA investment consists of units in a unit trust (as defined in section 202A of the Income Tax Assessment Act 1936); and
 (b) the *investor becomes presently entitled, for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936, to a share of income of the trust at a time (the entitlement time) before any of that share is paid to the investor.

 (2) The entity (including the *investment body) that would have to pay that share to the *investor if the share were due and payable at the entitlement time must withhold from the share, at that time, the amount (if any) that subsection 12‑140(2) would have required it to withhold if it had paid the share to the investor at that time.

For exceptions to the rules in this section, see sections 12‑155 to 12‑170.

 (3) This Part (except section 12‑140 and this section) applies as if that entity had paid that share to the *investor at the entitlement time.

 (4) If that entity withholds an amount from that share as required by subsection (2), subsection 12‑140(2) does not require an amount to be withheld from a payment of all or part of that share to the *investor.

12‑150  Limited application of section 12‑140 to payment under eligible deferred interest investment

  Section 12‑140 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