Income Tax Regulations (Amendment) (Cth)

Statutory

Rules1991No. 301 1

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Income Tax Regulations 2(Amendment)

I, THE 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 24 September 1991.

  BILL HAYDEN

 Governor-General

 By His Excellency’s Command,

J. KERIN

Treasurer

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1.   Commencement

1.1   These Regulations commence on 1 November 1991.

2.   Amendment

2.1   The Income Tax Regulations are amended as set out in these Regulations.

3.   Regulation 70 (Interpretation)

3.1   Subregulation 70 (4):

Add at the end:

 “; or

• (d)

  a declaration given under regulation 88A that, by virtue of regulation 90, has effect for the purposes of this Subdivision.”.

4.   New regulation 82A

4.1   After regulation 82, insert:

Rate of

deductions—deductible section 27H amounts

“82A. Where:

 (a) any salary or wages that an employee (other than an employee to whom regulation 81 applies) receives, or is entitled to receive, from an employer in respect of a week, in a year of income, comprise an amount of superannuation pension or an amount of annuity (in this regulation called “the relevant amount”); and

 (b) the employee has given to the employer a declaration in respect of the relevant amount that, by virtue of regulation 90, has effect for the purposes of this Subdivision;

the prescribed rate of deductions from the relevant amount to be made in respect of the week, for the purpose of subsection 221C (1) of the Act, is the rate of income tax instalment deductions applicable to an amount calculated using the formula:

the relevant amount -

where:

‘Deductible 27H amount’ means the deductible amount calculated in accordance with section 27H of the Act in respect of the superannuation pension or the annuity, as the case requires;

‘Number of instalments’ means the number of instalments of the superannuation pension or the annuity payable in the year of income.”.

5.   Regulation 83 (Rate of deductions—rebatable ETP annuities

and rebatable superannuation pensions)

5.1   Paragraph 83 (a):

Omit “or part of a week,”.

5.2   Paragraph 83 (a):

Omit “comprises or”.

5.3   Regulation 83:

Omit “deductions to be made in respect of the week, or the part of the week, for the purpose of subsection 221C (1) of the Act from the amount is:”, substitute “deductions to be made from the amount, for the purposes of subsection 221C (1) of the Act, in respect of the week is:”.

5.4   Paragraph 83 (c):

Omit “deducted”, substitute “deductible”.

5.5   Definitions of “Number of instalments of annuity” and “Number of instalments of rebatable superannuation pension”:

Omit “to be paid”, substitute “payable”.

6.   New regulation 88A

6.1 After regulation 88, insert:

 

Giving of declaration of entitlement to deductible amount under section 27H of the Act

“88A. (1) An employee who wants to have an amount that is a deductible amount in accordance with the provisions of section 27H of the Act taken into account in determining the prescribed rate of deductions to be made for the purpose of subsection 221C (1) of the Act must give a declaration under this regulation to the employer to the effect that the employee is entitled to the deductible amount.

“(2)

Where:

• (a)

  the employee has given a declaration under subregulation (1); and

• (b)

  a change of circumstances is to be taken into account for the purposes of subregulation (1);

the employee may give another declaration to the employer setting out the circumstances as changed.

“(3)

A declaration under this regulation must:

(a)

be in a form provided by the Commissioner; and

(b)

be signed by the employee; and

(c)

be dated on the day on which it is made.

“(4)

A declaration referred to in paragraph 70 (4) (a) and a declaration under this regulation may be combined in one form.

“(5)

A declaration under this regulation may be incorporated in the form for an employment declaration.”.

7.   Regulation 90 (Operation of declaration)

7.1   Subregulation (4):

Insert after paragraph (c):

“or (d)

a declaration under regulation 88A;”.

8.   Regulation 92 (Commissioner’s certificate)

8.1   Add at the end:

 “; or

 (d) where the declaration is a declaration referred to in paragraph 70 (4) (d):

 (i) that the employee has given a declaration under regulation 88A to the Commissioner; and

 (ii) the amount referred to in subregulation 88A (1) that applies in relation to the employee; and

 (iii) the date (not more than 13 months later than the date on which the certificate is issued) on which the certificate is to cease to have effect.”.

9.   Regulation 93 (Effect of certificate)

9.1   Subregulation 93 (1):

Add at the end:

 “; and

• (h)

  where the certificate was issued upon the Commissioner having received a declaration referred to in paragraph 70 (4) (d) given by the employee under regulation 91—a declaration given under regulation 88A had effect for the purposes of this Subdivision in relation to those payments.”.

10.   Regulation 94 (Operation of certificate)

10.1   Subregulation 94 (1):

Omit “(b) (iii) or (c) (iii),”, substitute “(b) (iii), (c) (iii) or (d) (iii),”.

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NOTES

1. Notified in the Commonwealth of Australia Gazette on 30 September 1991.

 

2. 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 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 and Acts Nos. 28, 49 and 112, 1986; 1987 Nos. 92 and 120; 1988 Nos. 196, 208, 262, 381, 382, 383 and 384 and Act No. 97, 1988; 1989 Nos. 67, 80, 115, 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 and 300.