When is withholding required from investment income payments?
Withholding is required from investment income for which the investor: • has not quoted a tax file number (TFN) or Australian business number (ABN) by the required time – that is, before the time when the payment became payable, and • has not informed the investment body that he or she is exempt from quoting. An investment body is required to report any withheld amount in the Annual investment income report (AIIR).
Related Questions
- Should the S corporation or partnership follow the nonresident withholding procedures when combining investment income as an overall loss?
- Can I have child support payments automatically withdrawn from my bank account if I am under an Income Withholding Order?
- Can an employee/obligor make their own EFT payments, instead of us having to enforce the income withholding order?
