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Taxation Administration Act 1953
18‑30 Credit: dividend, interest or roya18‑30 Credit: dividend, interest or royalty
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#### 18‑30 Credit: dividend, interest or royalty
(1) An entity is entitled to a credit if:
(a) the entity’s \*ordinary income, or \*statutory income, includes any of the following:
(i) a \*dividend (or a part of it), interest (within the meaning of Division 11A of Part III of the Income Tax Assessment Act 1936) or a \*royalty;
(ii) an amount that is represented by or reasonably attributable to an \*AMIT DIR payment; and
(b) if subparagraph (a)(i) applies—if the entity has borne all or part of an \*amount withheld from the dividend, interest or royalty; and
(c) if subparagraph (a)(ii) applies—if the entity has borne all or part of an amount paid under Division 12A in respect of the AMIT DIR payment.
(2) The amount of the credit is that amount or part.
> Note: A taxpayer may also be entitled to a credit in relation to payment of interest under, or in relation to the transfer of, a qualifying security. See section 128NBA of the Income Tax Assessment Act 1936.