Property authorised investment funds (PAIFs): Deducting and accounting for tax from distributions: introduction
The first part of this chapter sets out the rules for the deduction of tax that a PAIF is required to make to its investors from each of the distributions:
- Property income distributions (PIDs);
- PAIF distributions (interest); and
- PAIF distributions (dividends).
It also explains when investors should be paid distributions without deduction of tax. See IFM04420.
The second part of this chapter focuses on the statutory requirements that a PAIF will need to satisfy when:
- paying gross payments and the categories of investors entitled to receive gross payments (IFM04430 and IFM04440);
- providing certificates of deduction of tax when property income distributions and or PAIF distributions (interest) are made to investors (IFM04450);
- delivering returns when distributions from which tax has been deducted have been made (IFM04460); and
- accounting for tax deducted from property income distributions and PAIF distributions (interest) (IFM04470).