Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p8
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 8/9)
Character Range: 515129–517990

(a) the Commissioner must refund the amount overpaid; and
 (b) the individual is not entitled to a credit under section 18‑15 in respect of the amount overpaid.

14‑180  Application of certain provisions of Division 83A of the Income Tax Assessment Act 1997
  The following provisions of the Income Tax Assessment Act 1997 have effect for the purposes of this Subdivision in the same way as they have for the purposes of Division 83A of that Act:
 (a) section 83A‑130 (about takeovers and restructures);
 (b) section 83A‑305 (about associates);
 (c) section 83A‑320 (about trusts);
 (d) section 83A‑325 (about relationships similar to employment);
 (e) section 83A‑335 (about stapled securities);
 (f) section 83A‑340 (about indeterminate rights).

Subdivision 14‑D—Capital proceeds involving foreign residents and taxable Australian property

Table of sections
14‑200 Certain acquisitions of taxable Australian property from foreign residents
14‑205 Effect of look‑through earnout rights
14‑210 Whether an entity is a relevant foreign resident
14‑215 Excluded transactions
14‑220 Commissioner clearance certificates
14‑225 Entity declarations
14‑230 Administrative penalties for false or misleading declarations
14‑235 Varying amounts to be paid to the Commissioner

14‑200  Certain acquisitions of taxable Australian property from foreign residents
 (1) You must pay to the Commissioner an amount if:
 (a) you become the owner of a *CGT asset as a result of *acquiring it from one or more entities under one or more transactions; and
 (b) subsection 14‑210(1) (about foreign residents) applies to at least one of those entities at the time one of those transactions is entered into; and
 (c) at that time, the CGT asset is:
 (i) *taxable Australian real property; or
 (ii) an *indirect Australian real property interest; or
 (iii) an option or right to acquire such property or such an interest;
unless a transaction referred to in paragraph (a) is excluded under section 14‑215.
Note: You must pay the amount on account of income tax possibly payable by the entities on their capital proceeds resulting from your acquisition of the CGT asset.
 (2) You must pay the amount to the Commissioner on or before the day you became the *CGT asset's owner.
Note: There are penalties for failing to pay the amount (see Division 16).
 (3) The amount to be paid to the Commissioner is:
 (a) unless paragraph (b) applies—an amount equal to 15% of:
 (i) the first element of the *CGT asset's *cost base just after the *acquisition, ignoring paragraphs 112‑36(1)(b) and (c) of the Income Tax Assessment Act 1997 (about the effect of look‑through earnout rights); less
 (ii) if the acquisition is the result of you exercising an option—any payment you made, and the *market value of any property you gave, for the option (or to renew or extend it); or
 (b) the varied amount