20BAuthorised person to make deduction in respect of assessable amounts

20B Authorised person to make deduction in respect of assessable amounts

(1) Where: (a) the authorized person is given a statement under section 18 or 20A of the assessable amount in relation to the repayment of the whole or part of a deposit; or (b) the authorized person is not given any statement under paragraph 20A(1)(a) in relation to the repayment of a deposit within the 14 days referred to in subsection 20A(1); the authorized person must, subject to this section, deduct from the amount of the deposit or the part of the deposit: (c) where paragraph (a) applies—the percentage, prescribed in regulations for the purposes of this paragraph, of the assessable amount; or (d) where paragraph (b) applies—that percentage of the deposit. (2) The authorized person must pay the amount deducted to the Commissioner. (3) Where the authorized person makes a deduction from a deposit or part of a deposit that is repayable to a person, the authorized person is discharged from any liability to pay or account for the amount deducted to any person other than the Commissioner. (4) This section does not apply to a deposit to the extent that it consists of a farm management bond.