Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(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:
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:
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.