Taxation Administration Regulations 1976
35Part VA investment payments below certain thresholds (Act s 12‑140 and 12‑145 of Schedule 1)
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35 Part VA investment payments below certain thresholds (Act s 12‑140 and 12‑145 of Schedule 1)
(1) An amount is not required to be withheld from a payment mentioned in regulation 34 if: (a) the payment is not a payment in relation to an investment mentioned in item 6 (shares in a public company) in the table in subsection 202D(1) of the Income Tax Assessment Act 1936; and (b) the payment is to be made to an investor: (i) who had not turned 16 on the 1 January before the date on which the payment was made; and (ii) about whose age the investment body is aware; and (c) the amount of the payment is less than: (i) in the case of a payment in respect of the whole of a financial year—$420; and (ii) in any other case—an amount worked out using the formula:
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where:
P is the number of days in the period in the financial year in respect of which the amount is payable.
(2) If a payment mentioned in regulation 34: (a) is not of the kind described in subregulation (1); and (b) is in respect of an investment of a kind mentioned in item 1 or 2 in the table in subsection 202D(1) of the Income Tax Assessment Act 1936; and (c) is an amount of less than: (i) in the case of a payment in respect of the whole of a financial year—$120; and (ii) in any other case—the amount worked out using the formula:
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where:
P is the number of days in the period in the financial year in respect of which the amount is payable;
an amount is not required to be withheld from the payment.