Section Sch50-“ 24M — Income Tax Act 2007: Exemption certificates for schedular payments

“ 24M Exemption certificates for schedular payments “ (1) The Commissioner may provide a person who is entitled to receive a schedular payment with an exemption certificate setting out the payments for a period for which no amount of tax is to be withheld. “ (2) Subsection (1) does not apply to a payment to a non-resident entertainer. “ (3) The Commissioner may cancel an exemption certificate at any time. “ (4) If the Commissioner cancels an exemption certificate, the person who was provided the certificate must return it within 7 days of the date of cancellation. “ (5) An exemption certificate must not be altered or be used to cause a person making a schedular payment not to withhold an amount of tax for the payment. “ Compare: SR 1979/259 regulation 5, Income Tax (Withholding Payments) Regulations