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Our current situation is that the Australian company has borrowed from its HK related company and is charged for loan interest. The Australian company withholds tax before remittance of interest and principal to HK related comopany.
The HK company would like to get a certificate of payment for internal record so we are planning to complete and submit this form to ATO for processing.
Our questions are:
- Is it ok for the authorized contact to declare that "it is a requirement of my tax authority to ask the ATO for a certificate of payment" in Section B although we just apply for internal record at this stage? HK tax office may ask for it in future if necessary.
- As we are large withholder and we do not have PAYG amount disclosed in our monthly BAS, what should we fill for the fifth column in Section C? Say for example, if the gross amount subject to withholding is $1,000 and we need to withhold $100, and the Australia company will pay us the interest net of withholding tax together with principal repayment - which the bank statment shows a total amount of $1m, can we write "$1m (incl. $900 net interest payment)" in fifth column?
- Do we need to attach any supporting document (e.g. bank statement showing the payment) with the application form?