Income Tax Amendment Regulations 2000 (No. 2) (Cth)

Income Tax Amendment Regulations 2000 (No. 2)

Statutory Rules 2000 No. 72

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under theIncome Tax Assessment Act 1936.

Dated 5 May 2000

WILLIAM DEANE

Governor-General

By His Excellency’s Command

PETER COSTELLO

Treasurer

Income Tax Amendment Regulations 2000 (No. 2)1

Statutory Rules 2000 No. 722

made under the

Income Tax Assessment Act 1936

   

Contents

Page

1. •
2. •
3. •

 

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1Name of Regulations

 These Regulations are the Income Tax Amendment Regulations 2000 (No. 2).

2Commencement

 These Regulations commence on 1 July 2000.

3Amendment of Income Tax Regulations 1936

Schedule 1 amends the Income Tax Regulations 1936.

4Transitional

1. (1)

   The amendments of the Income Tax Regulations 1936 made by items [12] to [22], [24] to [27], [29] and [30] of Schedule 1 do not apply in relation to a payment made before 1 July 2000.

2. (2)

   Despite the amendments of the Income Tax Regulations 1936 made by item [12] of Schedule 1, a declaration mentioned in regulation 85, 86, 86A, 88 or 88A of those Regulations (as in force immediately before 1 July 2000) that had effect at that time continues to have effect as if it were a declaration given under subsection 15-50 (1) of Schedule 1 to the Taxation Administration Act 1953 on 1 July 2000.

Schedule 1Amendments

Do not delete: Schedule Part placeholder

(regulation 3)

[1]Subregulation 2 (1), definition of employment declaration

substitute

ABN (Australian Business Number) has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.

[2]Subregulation 19 (2)

omit

an employment declaration

insert

a TFN declaration

[3]Subregulation 55 (1)

after

Part VA of the Act

insert

, or ABN is quoted under section 12-155 of Schedule 1 to the Taxation Administration Act 1953,

[4]Paragraph 55 (2) (a)

after

tax file numbers

insert

or ABNs

[5]Paragraph 55 (5) (b)

after

tax file number

insert

or ABN

[6]Paragraph 56 (4) (d)

after

Part VA of the Act,

insert

or the ABN (if any) quoted under section 12-155 of Schedule 1 to the Taxation Administration Act 1953,

[7]Paragraph 56 (4) (g)

substitute

1. (g)

   the total amount of:

   1. (i)

      any deductions made under Division 3B of Part VI of the Act; and

   2. (ii)

      any amounts withheld under sections 12-140 and 12-145 of Schedule 1 to the Taxation Administration Act 1953; and

   3. (iii)

      any payments made under Division 14 of Schedule 1 to that Act because of the operation of sections 12-140 and 12-145; and

[8]Subparagraph 56 (4) (h) (iii)

after

Part VI of the Act

insert

, any amount withheld under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953 and any payment made under Division 14 of that Schedule because of the operation of Subdivision 12-F

[9]Paragraph 56 (4A) (d)

after

Part VA of the Act

insert

, and the ABN (if any) quoted under section 12-155 of Schedule 1 to the Taxation Administration Act 1953,

[10]Paragraph 56 (4A) (g)

substitute

1. (g)

   the total amount of:

   1. (i)

      any deductions made under Division 3B of Part VI of the Act; and

   2. (ii)

      any amounts withheld under section 12-140 or 12-145 of Schedule 1 to the Taxation Administration Act 1953; and

   3. (iii)

      any payments made under Division 14 of Schedule 1 to that Act because of the operation of sections 12-140 and 12-145; and

[11]Subregulation 56 (5B)

substitute

1. (5B)

   Subregulation (1) applies to an investment in relation to a financial year if a person who at any time in the financial year is the investment body that accepted the investment is required:

   1. (a)

      to deduct under subsection 221YHZC (1A) of the Act, or to withhold under section 12-140 or 12‑145 of Schedule 1 to the Taxation Administration Act 1953, an amount from any income that an investor is entitled to receive in the financial year in respect of the investment; or

   2. (b)

      to pay an amount to the Commissioner under Division 14 of Schedule 1 to that Act because of the operation of those sections.

[12]Part 7, Division 2, Subdivisions 1 and 2

omit

[13]Regulation 97, heading

substitute

97Definitions for Subdivisions 3 and 3A

[14]Subregulation 97 (1)

omit

as in that Subdivision.

insert

and Subdivision 3A as in Subdivisions AAA and AAB of Division 17 of Part III of the Act.

[15]Subregulation 97 (2), definition of concessional component

omit

[16]Subregulation 97 (2), definition of ETP group certificate

omit

[17]Subregulation 97 (2), definitions of non-dependant and non-qualifying component

omit

[18]Subregulation 97 (2), definition of PAYE account number

omit

[19]Subregulation 97 (2), definition of prescribed non‑resident

omit

[20]Subregulation 97 (2), definitions of retained amount of the pre-July 83 component and retained amount of the post-June 83 component

omit

[21]Subregulation 97 (2), definition of untaxed element of the post-June 83 component

omit

[22]Regulation 98

omit

[23]Regulation 99F

substitute

99FAggregated amount of pre-July 83 component and taxed element of post-June 83 component

 For the purposes of paragraph 99D (1) (j), the

pre-July 83 component and the taxed element of the post-June 83 component may be shown as an aggregated amount.

[24]Subregulations 99I (3) and (4)

omit

[25]Regulations 99J and 99K

omit

[26]Regulation 100

omit

[27]Part 7, Division 2, Subdivisions 4, 5 and 6

omit

[28]Part 7, Division 3

omit

[29]Part 7, Divisions 4, 5, 6 and 7

omit

[30]Part 7, Divisions 9, 10, 11, 11A and 11B

omit

Notes

1. These Regulations amend Statutory Rules 1936 No. 94, as amended by 1939 Nos. 6 and 42; 1940 Nos. 138 and 289; 1941 Nos. 120 and 327; 1942 Nos. 339 and 553; 1943 Nos. 80, 127 and 151; 1944 Nos. 90 and 124; 1945 Nos. 12, 85, 169 and 192; 1946 No. 135; 1947 Nos. 77 and 173; 1948 Nos. 115 and 162; 1949 Nos. 25 and 50; 1950 Nos. 63 and 101; 1951 Nos. 136 and 157; 1952 Nos. 89, 90 and 102; 1953 Nos. 55 and 88; 1954 Nos. 11, 99 and 112; 1955 No. 23; 1956 Nos. 34, 35 (repealed by 1956 No. 96) and 96; 1957 Nos. 39 and 74; 1958 Nos. 27 and 70; 1959 Nos. 25 and 81; 1960 Nos. 44 and 74; 1962 Nos. 15, 44 and 112; 1963 Nos. 53 and 92; 1964 Nos. 74, 121 and 134; 1965 Nos. 133 and 187; 1966 No. 156; 1967 Nos. 112 and 126; 1968 No. 1; 1969 No. 68; 1970 Nos. 43, 126, 168 and 213; 1971 Nos. 120 and 148; 1972 Nos. 48, 50 and 137; 1973 No. 266; 1974 Nos. 193, 226 and 267; 1975 Nos. 88, 89, 99, 101 and 213; 1976 Nos. 115, 188 and 212; 1977 Nos. 77, 107 and 248; 1978 Nos. 85 and 193; 1979 Nos. 126 and 239; 1980 Nos. 86, 137 and 149; 1981 Nos. 116 and 360; 1982 Nos. 115, 128, 267 and 280; 1983 Nos. 79, 87, 111, 213 and 319; 1984 Nos. 172, 286, 408 and 416; 1985 Nos. 21, 148, 274 and 278; 1986 No. 325; Acts Nos. 28, 49 and 112, 1986; Statutory Rules 1987 Nos. 92 and 120; 1988 Nos. 196, 208, 262, 381, 382, 383 and 384; Act No. 97, 1988; Statutory Rules 1989 Nos. 67, 80, 115 (as amended by 1989 No. 358), 123, 124, 141, 250 and 358; 1990 Nos. 19, 126, 151, 152, 192, 347, 390, 398 and 468; 1991 Nos. 20, 121, 156, 158, 240, 300, 301, 390 and 391; 1992 Nos. 38, 129, 216, 313 and 449; 1993 Nos. 15, 46, 47, 65, 91, 159, 202, 216, 275, 288 and 370; 1994 Nos. 95, 96, 127, 174, 195, 219, 399, 412, 460, 461 and 462; 1995 Nos. 58, 107, 139, 152, 153, 194, 316, 356, 381, 382, 383 and 447; Act No. 30, 1995; Statutory Rules 1996 Nos. 38, 56, 114, 124, 133, 150, 185, 274, 320, 345 and 346; 1997 Nos. 68, 141, 148, 169, 176, 191, 196, 197, 270, 338, 368 and 416; 1998 Nos. 14, 92, 129, 163, 313 and 348; 1999 Nos. 79, 80 and 114; Act No. 60, 1999; Statutory Rules 2000 No. 39.

2. Made by the Governor-General on 5 May 2000, and notified in the Commonwealth of Australia Gazette on 12 May 2000.