Income Tax and Social Services Contribution Regulations (Amendment) (Cth)

STATUTORY RULES.

1954. No..

 

REGULATION UNDER THE INCOME TAX AND SOCIAL SERVICES CONTRIBUTION ASSESSMENT ACT 1936-1954.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the Income Tax and Social Services Contribution Assessment Act 1936-1954.

Dated this twelfth day of November, 1954.

W. J. Slim

Governor-General.

By His Excellency’s Command,

For and on behalf of the Treasurer.

 

Amendment of the Income Tax and Social Services Contribution Regulations.

After regulation 54zdof the Income Tax and Social Services Contribution Regulations the following regulation is inserted in Division 3 of Part VI.:—

“ 54ze. The provisional tax and contribution payable, but for this regulation, by a taxpayer in accordance with the provisions of section 221yc of the Act in respect of the income of the year of income ending on the thirtieth day of June, 1955, shall be decreased to the amount that would be payable if the references in sub-section (1.) of that section, in its application in respect of that provisional tax and contribution, to the income tax assessed in respect of the year next preceding that year of income were read as references to the income tax so assessed, reduced by the amount by which the tax imposed by sub-section (1.) of section 6 of the Income Tax and Social Services Contribution Act 1953 on a taxable income equal to the taxable income of the next preceding year of income exceeds the tax imposed by sub-section (1.) of section 6 of the Income Tax and Social Services Contribution Act 1954 on a taxable income equal to that amount.”.

 

* Notified in the Commonwealth Gazette on , 1954

  Statutory Rules 1936, No. 94, as amended by Statutory Rules 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; and 1954, Nos. 11 and 99.

 

Printed for the Government of the Commonwealth by A. J. Arthur at the Government Printing Office, Canberra.

4913.—Price 3d. 10/1.11.1954.