[SAIM9140] SAIM9140 – Deduction of tax: payments other than interest and annual payments
Deduction of tax
The rules in ITA07/PT15 on deduction of tax at source also apply to payments other than bank and building society interest, and yearly interest and annual payments. These include the following.
Building society securities
Deduction of tax at the basic rate may be required in respect of certain building society shares or securities which are listed or capable of being listed on a recognised stock exchange (ITA07/S889). Permanent Interest Bearing Shares will be exempt in practice because they normally satisfy the Quoted Eurobond exemption in ITA07/S987.