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Taxation Administration Act 1953
12A‑35 Meaning of AMIT interest payment12A‑35 Meaning of AMIT interest payment
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#### 12A‑35 Meaning of AMIT interest payment
(1) This section applies to a trust that is an \*AMIT for an income year.
(2) The object of this section is to ensure that the total of the \*AMIT interest payments that the trustee of the \*AMIT makes in relation to the income year equals, as nearly as practicable, the amount mentioned in subsection (3).
(3) The amount is the total of the \*determined member components for the \*AMIT for the income year of the character of interest (as defined in Division 11A of Part III of the Income Tax Assessment Act 1936) that is subject to a requirement to withhold under Subdivision 12‑F.
(4) To work out the amount of an AMIT interest payment, apply subsections 12A‑30(4), (5), (6) and (7). For this purpose:
(a) treat references in those subsections to AMIT dividend payments as instead being references to AMIT interest payments; and
(b) treat the reference in subsection 12A‑30(4) to “the amount mentioned in subsection (3)” as instead being a reference to “the amount mentioned in subsection 12A‑35(3)”.