Taxation Administration Regulations 1976
37Certain payments for which TFNs not quoted
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37 Certain payments for which TFNs not quoted
(1) This regulation applies to a payment if: (a) a provision of Subdivision 12‑B (except section 12‑55), 12‑C or 12‑D of Schedule 1 to the Act requires an amount to be withheld from the payment; and (b) the recipient of the payment does not provide the payer with a TFN declaration that has effect under Division 3 of Part VA of the Income Tax Assessment Act 1936. (2) The amount to be withheld from the payment is: (a) if the recipient of the payment is a prescribed foreign resident—an amount equal to the product of the highest rate specified in the table in Part II of Schedule 7 to the Income Tax Rates Act 1986 and the amount of the payment; and (b) if the recipient of the payment is not a prescribed foreign resident—an amount equal to the product of the top rate and the amount of the payment.
Note: For top rate, see regulation 2.