s 53A
In forceFHSS released amounts
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 EAWithholding amounts for Subdivision 12‑J
53A FHSS released amounts
(1)
The amount to be withheld under section 12‑460 in Schedule 1 to the Act from the FHSS released amounts paid in respect of an individual is:
(a)
the amount of tax that the Commissioner estimates will be payable by the individual in relation to the individual’s assessable FHSS released amount for an income year; or
(b)
if the Commissioner is unable to make an estimate under paragraph (a)—17% of the individual’s assessable FHSS released amount for an income year.
(2)
For the purposes of this section, the Commissioner may have regard to any information that the Commissioner considers relevant.
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