s 35
In forcePart VA investment payments
Part 3Income tax (Chapter 2 in Schedule 1 to the Act)
Division 3Pay as you go (PAYG) withholding—Working out the amount to withhold
Subdivision AWithholding amounts for Subdivision 12‑E
35 Part VA investment payments
(1)
The amount to be withheld under section 12‑140 or 12‑145 in Schedule 1 to the Act from a payment made in respect of a Part VA investment is an amount equal to the product of the top rate and the amount of the payment.
Note:
For the thresholds for withholding, see section 28.
(2)
However, subsection (3) applies if:
(a)
the payment from which that amount is to be withheld is a franked distribution; and
(b)
the franking percentage is less than 100%.
(3)
The amount to be withheld from the payment is the product of the unfranked part of the distribution and the top rate.
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