Income Tax Amendment Regulations 2001 (No. 4) (Cth)
Income Tax Amendment Regulations 2001 (No. 4) 1
Statutory Rules 2001 No. 107 2
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 the
Income Tax Assessment Act 1936. Dated 30 May 2001
WILLIAM DEANE
Governor-General
By His Excellency’s Command
C. R. KEMP
Assistant Treasurer
These Regulations are the
Income Tax Amendment Regulations 2001 (No. 4) .
These Regulations commence on gazettal.
Schedule 1 amends the
Income Tax Regulations 1936 .
(regulation 3)
omit paragraph 160AAAA (3) (a) or 160AAAB (3) (a)
insert subsection 160AAAA (3) or 160AAA (3)
omit $415
insert $1 037
omit $331,
insert $900,
omit $304
insert $751
omit
insert
[6] Subregulation 150AB (3), before definition of rebate amount
insert
low income rebate amount means the maximum amount of rebate allowable under section 159N of the Act.
substitute
(a) a taxpayer (
TP1 ) is:
(i) entitled to a rebate of tax under section 160AAAA or 160AAA of the Act; and
(ii) the relevant income-recipient in relation to the rebate to which he or she is entitled; and
(aa) a person (
TP2 ) who is, at any time in that year of income, TP1’s spouse is:
(i) entitled to a rebate of tax under section 160AAAA of the Act; and
(ii) the relevant income-recipient in relation to the rebate to which he or she is entitled; and
(b) TP1’s:
(i) rebate amount for the year of income worked out under this regulation; or
(ii) adjusted rebate amount worked out under regulation 151;
exceeds the tax payable by TP1 in respect of income of that year (disregarding any credits or rebates); and
substitute
(a) for TP1:
(i) the amount ascertained under subregulation 150AB (2); or
(ii) the adjusted rebate amount ascertained under subregulation 151 (3);
reduced by the amount of the excess rebate amount mentioned in paragraph (1) (b); and
after section 160AAAA
insert or 160AAA
substitute
(c) TP1’s:
(i) rebate amount for the year of income worked out under this regulation; or
(ii) adjusted rebate amount worked out under regulation 151;
exceeds the tax payable by TP1 in respect of income of that year (disregarding any credits or rebates); and
after subregulation 150AB (2)
insert or 151 (3)
insert
(10) This regulation does not apply if TP2 was in receipt of a benefit under Part 2.11, 2.12, 2.14 or 2.15 of SSA91 on the last day of the year of income.
substitute
151 Rebate for section 160AAA of the Act
substitute
(a) subject to subregulation (7), the assessable income is the assessable income of a taxpayer (in this subregulation and subregulation (7) called the
first taxpayer ) who is, at any time of the year of income, entitled to rebate of tax under section 160AAAA or 160AAA of the Act; and(b) the assessable income of another taxpayer, being the partner of the first taxpayer (in this subregulation called the
second taxpayer ) of the year of income includes an amount paid as a partnered-rate pension or a separated-rate pension; and
after adjusted rebate amount
insert , or rebate amount under regulation 150AB,
after subregulation (1)
insert or regulation 150AB
insert
(8) This Regulation applies whether the first taxpayer is, or is not, the same person as the second taxpayer.
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 Nos. 39, 72, 90, 117, 229 and 262; 2001 Nos. 81, 100 and 104.
2. Notified in the
Commonwealth of Australia Gazette
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