14-10
CurrentDividend, interest or royalty received, for a foreign resident, in the form of a non‑cash benefit
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)
Schedule 1Collection and recovery of income tax and other liabilities
Chapter 2Collection, recovery and administration of income tax
Part 2-5Pay as you go (PAYG) withholding
Division 14Benefits, gains and taxable supplies for which amounts must be paid to the Commissioner
Subdivision 14-ANon‑cash benefits
14-10 Dividend, interest or royalty received, for a foreign resident, in the form of a non‑cash benefit
If:
(a)
an entity (the payer) receives in the form of a *non‑cash benefit:
(i)
a *dividend of a company; or
(ii)
interest (within the meaning of Division 11A of Part III of the Income Tax Assessment Act 1936); or
(iii)
a *royalty; and
(b)
section 12‑215, 12‑250 or 12‑285 would have required the payer to withhold an amount if the dividend, interest or royalty had been a payment in money;
the payer must pay that amount to the Commissioner before providing the benefit (or part of it) to another entity.
This Act’s bill:Second reading speech
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