s 12A-1
In forceWhat this Division is about
Volume 1Parts I to V (sections 1 to 18), Schedule 1, Chapter 2, Part 2-1 to Part 2-5 (sections 6-1 to 21-5)
Chapter 2Collection, recovery and administration of income tax
Part 2-5Pay as you go (PAYG) withholding
Division 12ADistributions by AMITs (including deemed payments)
12A-1 What this Division is about
When a withholding MIT that is an AMIT gives a member an AMMA statement, the trustee is deemed to have made a payment to the member.
The deemed payment can flow through one or more custodians, giving rise to subsequent deemed payments.
Withholding liabilities under Subdivisions 12‑F and 12‑H do not apply in relation to deemed payments (although analogous liabilities may arise under Subdivision 12A‑C).
AMIT trustees, custodians and other entities may be required to give notices etc. to recipients of such deemed payments.
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