Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p24
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 24/63)
Character Range: 399278–401889

must withhold an amount from the payment.
Note 1: An entity may be covered by section 12‑410 if the entity has an address outside Australia or payment is authorised to be made to a place outside Australia.
Note 2: If the payment is made to a recipient not covered by section 12‑410, the trustee is required to give a notice to the recipient or publish information on a website setting out certain details about the payment: see section 12‑395.
 (2) The amount the trustee must withhold is:
 (3) The rate is:
 (a) if the address or place for payment of the recipient is in an *information exchange country:
 (i) 15% for *fund payments (except to the extent mentioned in subparagraph (ii) or (iii)); or
 (ii) 10% for fund payments, to the extent that they are, or are attributable to, fund payments from a *clean building managed investment trust (except to the extent mentioned in subparagraph (iii)); or
 (iii) 30% for fund payments, to the extent that they are attributable to *non‑concessional MIT income (see section 12‑435); or
 (b) otherwise—30%.
 (4) An information exchange country is a foreign country or foreign territory specified in the regulations for the purposes of this section.
 (5) This section does not apply to an amount paid by a *withholding MIT to the extent that no *managed investment trust withholding tax is payable in respect of the payment or an amount reasonably attributable to the payment.

12‑390  Withholding by custodians and other entities

Withholding by custodians
 (1) A *custodian must withhold an amount from a payment (the later payment) it makes if:
 (a) all or some of the later payment (the covered part) is reasonably attributable to the part of an earlier payment received by the custodian that was covered by a notice or information under section 12‑395; and
 (b) the later payment is made to an entity covered by section 12‑410.
Note 1: The covered part referred to in paragraph (1)(a) is attributable to a fund payment made by a withholding MIT, or 2 or more fund payments made by one or more withholding MITs. One or more of those withholding MITs may be AMITs.
Note 2: An entity may be covered by section 12‑410 if the entity has an address outside Australia or payment is authorised to be made to a place outside Australia.
Note 3: If the payment is made to a recipient not covered by section 12‑410, the custodian is required to give a notice to the recipient or publish information on a website setting out certain details about the payment: see section 12‑395.
 (2) The amount the *custodian must withhold is:
 (3) The rate is:
 (a) if the address or place