14-60
CurrentInvestment body may recover TFN withholding tax from investor
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-BAccruing gains
14-60 Investment body may recover TFN withholding tax from investor
(1)
The *investment body may recover from the *investor as a debt any of the *TFN withholding tax that it pays.
(2)
The *investment body is entitled to set off an amount that it can recover from the *investor under this section against:
(a)
a debt due by it to the investor; or
(b)
an amount that is accruing to the investor, or stands to the investor’s credit, in respect of the *Part VA investment, even if the amount is not yet due.
This Act’s bill:Second reading speech
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