Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p60
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 60/63)
Character Range: 487834–490442

withhold under:
 (a) if the deemed payment is a *fund payment—section 12‑385; or
 (b) if the deemed payment is an *AMIT DIR payment—section 12‑210, 12‑245 or 12‑280.
 (3) The assumptions are that:
 (a) the deemed payment had not arisen because of the operation of section 12A‑205; and
 (b) the deemed payment had instead been an actual payment; and
 (c) if the deemed payment is an *AMIT DIR payment:
 (i) where it corresponds to the character of a dividend (as defined in Division 11A of Part III of the Income Tax Assessment Act 1936) that is subject to a requirement to withhold under Subdivision 12‑F—the trust had been a company, and it had paid it as a dividend; or
 (ii) where it corresponds to the character of interest (as defined in Division 11A of Part III of the Income Tax Assessment Act 1936) that is subject to a requirement to withhold under Subdivision 12‑F—it were the payment of interest; or
 (iii) where it corresponds to the character of a *royalty that is subject to a requirement to withhold under Subdivision 12‑F—it were the payment of a royalty; and
 (d) if the deemed payment is an AMIT DIR payment—the condition in either or both of paragraphs 12‑210(a) or (b), of paragraphs 12‑245(a) or (b) or of paragraphs 12‑280(a) or (b) (as the case requires) were satisfied.
 (4) The trustee may recover from the recipient as a debt an amount that the trustee has paid to the Commissioner under subsection (1).
 (5) The trustee is entitled to set off an amount that the trustee can recover from the recipient under subsection (4) against debts due by the trustee to the recipient.

12A‑220  Custodian payment to the Commissioner in respect of deemed payments to offshore entities etc.
 (1) A *custodian must pay an amount to the Commissioner if:
 (a) the trustee of a trust that was an *AMIT for an income year and was a *withholding MIT in relation to the income year made a payment (the first deemed payment) that:
 (i) arose because of the operation of section 12A‑205; and
 (ii) was a *fund payment or an *AMIT DIR payment; and
 (b) the custodian makes a payment (the subsequent deemed payment) that arises because of the operation of section 12A‑205; and
 (c) the first deemed payment gave rise to the subsequent deemed payment, because of one or more operations of section 12A‑205; and
 (d) the subsequent deemed payment or part of it (the covered part) was covered by a notice or information under:
 (i) if the first deemed payment was a fund payment—section 12‑395; or
 (ii) if the first deemed payment was an AMIT DIR payment—section 12A‑15; and
 (e) the subsequent deemed payment