IFM04410 | 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).