12‑385 Withholding by withholding MITs12‑385 Withholding by withholding MITs

#### 12‑385 Withholding by withholding MITs (1) A trustee of a trust that is a \*withholding MIT in relation to an income year that makes a \*fund payment in relation to that income year to an entity covered by section 12‑410 must withhold an amount from the payment. > Note 1: An entity may be covered by section 12‑410 if the entity has an address outside Australia or payment is authorised to be made to a place outside Australia. > Note 2: If the payment is made to a recipient not covered by section 12‑410, the trustee is required to give a notice to the recipient or publish information on a website setting out certain details about the payment: see section 12‑395. (2) The amount the trustee must withhold is:  (3) The rate is: (a) if the address or place for payment of the recipient is in an \*information exchange country: (i) 15% for \*fund payments (except to the extent mentioned in subparagraph (ii) or (iii)); or (ii) 10% for fund payments, to the extent that they are, or are attributable to, fund payments from a \*clean building managed investment trust (except to the extent mentioned in subparagraph (iii)); or (iii) 30% for fund payments, to the extent that they are attributable to \*non‑concessional MIT income (see section 12‑435); or (b) otherwise—30%. (4) An information exchange country is a foreign country or foreign territory specified in the regulations for the purposes of this section. (5) This section does not apply to an amount paid by a \*withholding MIT to the extent that no \*managed investment trust withholding tax is payable in respect of the payment or an amount reasonably attributable to the payment.