Withholding tax on specified securities applies to eligible Specified Funds at credit or payment, without a threshold exemption.

Withholding tax applies to income in respect of securities identified under section 210(1) when paid or credited to a Specified Fund referred to in Schedule VI. Any person responsible for payment must deduct tax at the earlier of credit or payment. No threshold exemption applies, so every covered payment attracts deduction. The provision prescribes a concessional withholding rate of 10% and is limited to recipients qualifying as Specified Funds.

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