Taxation Administration Act 1953

An entity is entitled to a credit if:

the entity’s *ordinary income or *statutory income includes an amount that is represented by or reasonably attributable to a *fund payment; and

the entity has borne all or part of:

an *amount withheld from the payment under Subdivision 12‑H; or

an amount paid under Division 12A in respect of the fund payment.

The amount of the credit is that amount or part.

Subsection (4) applies if:

all or part of an amount (the fund payment part) is represented by a payment that is a *fund payment; and

under subsection 840‑805(4A) of the Income Tax Assessment Act 1997, a *foreign pension fund is taken, in respect of the fund payment part, to be a beneficiary in its own right, and not a beneficiary in the capacity of the trustee of another trust; and

there is an *amount withheld from the fund payment under Subdivision 12‑H.

For the purposes of paragraph (1)(b):

treat the *foreign pension fund as having borne all or part of the amount withheld; and

treat a beneficiary of the foreign pension fund as not having borne all or part of the amount withheld.