Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p1
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 1/15)
Character Range: 519880–522654

3                                                                 14‑200                                                  14‑205

When you must pay the amount
 (3) You must pay the amount to the Commissioner on or before the day you provide the *financial benefit.
Note: There are penalties for failing to pay the amount (see Division 16).
 (4) The amount to be paid to the Commissioner is:
 (a) unless paragraph (b) applies—an amount equal to 15% of the *market value of the *financial benefit; or
 (b) the varied amount applying under section 14‑235.

14‑210  Whether an entity is a relevant foreign resident

Is the entity a foreign resident at the time of the transaction?
 (1) This subsection applies to an entity at the time a transaction is entered into if, at that time:
 (a) you know that the entity is a foreign resident; or
 (b) you reasonably believe that the entity is a foreign resident; or
 (c) you do not reasonably believe that the entity is an Australian resident, and either:
 (i) the entity has an address outside Australia (according to any record that is in your possession, or is kept or maintained on your behalf, about the transaction); or
 (ii) you are authorised to provide a related financial benefit to a place outside Australia (whether to the entity or to anyone else); or
 (d) the entity has a connection outside Australia of a kind specified in the regulations; or
 (e) the *CGT asset to which the transaction relates is:
 (i) *taxable Australian real property; or
 (ii) an *indirect Australian real property interest, the holding of which causes a company title interest (within the meaning of Part X of the Income Tax Assessment Act 1936) to arise.
Note: This subsection is relevant to whether you must pay an amount to the Commissioner under section 14‑200.

Exception—the entity gives you a clearance certificate
 (2) Despite subsection (1), that subsection does not apply to the entity in relation to the transaction if:
 (a) before you pay the Commissioner under section 14‑200 in relation to the *CGT asset to which the transaction relates, the entity gives you a certificate about the entity that:
 (i) was issued under subsection 14‑220(1); and
 (ii) is for a period covering the time the transaction is entered into; and
 (b) the CGT asset is of a kind described in paragraph (1)(e) of this section.

Exception—the entity gives you a residency or interests declaration
 (3) Despite subsection (1), that subsection does not apply to the entity in relation to the transaction if:
 (a) before you pay the Commissioner under section 14‑200 in relation to the *CGT asset to which the transaction relates, the entity gives you a declaration that:
 (i) is about the entity or the CGT asset; and
 (ii) was given under subsection 14‑225(1)