Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p6
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 6/9)
Character Range: 510129–512895

is paid.

14‑75  Overpayment of TFN withholding tax
  If *TFN withholding tax has been overpaid:
 (a) the Commissioner must refund the amount overpaid; and
 (b) the *investor is not entitled to a credit under section 18‑15, 18‑20 or 18‑25 in respect of the amount overpaid.

14‑85  Other laws do not exempt from TFN withholding tax
 (1) A provision of a law passed before the commencement of this section that purports to exempt an entity from liability to pay *TFN withholding tax, or to pay taxes that include TFN withholding tax, does not exempt that entity from liability to pay TFN withholding tax.
 (2) A provision of a law passed at or after the commencement of this section that purports to exempt an entity from liability to pay taxes under the laws of the Commonwealth, or to pay certain taxes under those laws that include *TFN withholding tax, is not to be interpreted as exempting the entity from liability to pay TFN withholding tax, unless it specifically mentions TFN withholding tax.

Subdivision 14‑C—Shares and rights under employee share schemes

Table of sections
14‑155 Liability for TFN withholding tax (ESS)
14‑160 Employer may give individual tax file numbers to provider
14‑165 Provider may recover TFN withholding tax (ESS) from individual
14‑170 Application of rules in Division 18
14‑175 Overpayment of TFN withholding tax (ESS)
14‑180 Application of certain provisions of Division 83A of the Income Tax Assessment Act 1997

14‑155  Liability for TFN withholding tax (ESS)
 (1) Tax (TFN withholding tax (ESS)) imposed by the Income Tax (TFN Withholding Tax (ESS)) Act 2009 is payable if:
 (a) a company (the provider) provides one or more *ESS interests to an individual under an *employee share scheme; and
 (b) as a result, an amount is included in the individual's assessable income under Division 83A of the Income Tax Assessment Act 1997 for an income year (taking into account subsection (2) of this section); and
 (c) the individual has quoted neither of the following to the provider before the end of the income year:
 (i) if the individual acquired the interests in relation to any services provided to the provider, or to a *subsidiary of the provider, in the course or furtherance of an *enterprise *carried on by the individual—the individual's *ABN;
 (ii) in any case—the individual's *tax file number.
 (2) For the purposes of paragraph (1)(b), disregard sections 83A‑33 and 83A‑35 of the Income Tax Assessment Act 1997 (about reducing the amount included in the individual's assessable income).
Note: Disregard the 30 day rule in subsections 83A‑115(3) and 83A‑120(3) of the Income Tax Assessment Act 1997 for the purposes of this Subdivision: see subsection 392‑5(6) in this Schedule.
 (3) The *TFN withholding tax (ESS)