Offshore fund unit income requires withholding by any payer, with no monetary threshold for tax deduction. Tax deduction at source applies to income in respect of units referred to in section 208 when payable to an Offshore Fund. Any person responsible for ... Summary
Offshore fund unit income requires withholding by any payer, with no monetary threshold for tax deduction.
Tax deduction at source applies to income in respect of units referred to in section 208 when payable to an Offshore Fund. Any person responsible for making the payment must deduct tax. Tax is deductible at the concessional rate of 10%, and no monetary threshold applies. The withholding framework retains the recipient category, deductor obligation, rate of deduction, and absence of a threshold limit applicable to income from specified units payable to Offshore Funds.
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