Income Tax Act 2007 section 896

Withdrawal of application

Section 896 deals with how a holder of securities can withdraw a previously made deduction at source application, including the required form and the timing of when the withdrawal takes effect.

• The registered holder of securities may withdraw a deduction at source application by giving notice to the Registrar
• The withdrawal notice must be in a form prescribed by the Registrar with Treasury approval
• The withdrawal takes effect one month after the Registrar receives the notice
• Only the holder of the securities is entitled to initiate the withdrawal