Taxation Administration Regulations 2017

This section is made for the purposes of section 12‑170 in Schedule 1 to the Act.

Investments other than public company shares, investors aged under 16

An amount is not required to be withheld from a payment under section 12‑140 or 12‑145 in Schedule 1 to the Act if:

the payment is not a payment in relation to an investment mentioned in item 6 (shares in a public company) of the table in subsection 202D(1) of the Income Tax Assessment Act 1936; and

the payment is to be made to an investor:

who had not turned 16 on the 1 January before the date on which the payment was made; and

about whose age the investment body is aware; and

the amount of the payment is less than:

in the case of a payment in respect of the whole of a financial year—$420; and

in any other case—an amount worked out using the formula:

where:

number of days in period is the number of days in the period in the financial year in respect of which the amount is payable.

number of days in year is the number of days in the financial year.

Interest‑bearing investments

An amount is not required to be withheld from a payment under section 12‑140 or 12‑145 in Schedule 1 to the Act if:

the payment is not a payment to which subsection (2) applies; and

the payment is in respect of an investment of a kind mentioned in item 1 or 2 of the table in subsection 202D(1) of the Income Tax Assessment Act 1936; and

the amount of the payment is less than:

in the case of a payment in respect of the whole of a financial year—$120; and

in any other case—the amount worked out using the formula:

where:

number of days in period is the number of days in the period in the financial year in respect of which the amount is payable.

number of days in year is the number of days in the financial year.