Income Tax Regulations (Amendment) (Cth)

Statutory Rules 1993

No. 288 1

__________________

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 AssessmentAct 1936.

Dated 28 October 1993.

 BILL HAYDEN

 Governor-General

By His Excellency’s Command,

JOHN DAWKINS

Treasurer

____________

1.   Commencement

1.1   These Regulations commence on 15 November 1993.

2.   Amendment

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

3.   Regulation 70 (Interpretation)

3.1   Subregulation 70 (1) (definition of “weekly family income threshold”):

Omit:

,” ;

substitute:

,” .

4.   Regulation 72 (Rate of deductions—employee claiming general exemption only and employee, not being a prescribed person, claiming general exemption and Medicare levy variation)

4.1   Subparagraph 72 (1) (d) (ii):

Omit “$225”, substitute “$240”.

4.2   Paragraph 72 (2) (a):

Omit “$242”, substitute “$258”.

4.3   Paragraph 72 (2) (a):

Omit “225.11”, substitute “240.28”.

4.4   Paragraph 72 (2) (b):

Omit “$242”, substitute “$258”.

5.   Regulation 73 (Rate of deductions—employee, being a prescribed person, claiming general exemption and Medicare levy variation)

5.1   Paragraph 73 (1) (e):

Omit “$380”, substitute “$404”.

5.2   Paragraph 73 (2) (a):

Omit “$408”, substitute “$435”.

5.3   Paragraph 73 (2) (a):

Omit “380.07”, substitute “404.73”.

5.4  Paragraph 73 (2) (b):

Omit “$408”, substitute “$435”.

6.   Regulation 80 (Rate of deductions—employee in receipt of certain retirement amounts etc.)

6.1   Paragraphs 80 (b) and (c):

Omit the paragraphs, substitute:

• “(b)

  an amount to which section 26AC of the Act applies as described in paragraph (a) of the definition of ‘eligible assessable income’ in section 159S of the Act; or

• (c)

  an assessable retirement amount for the purposes of the definition of ‘salary or wages’ in subsection 221A (1) of the Act as described in paragraph (b) of the definition of ‘eligible assessable income’ in section 159S of the Act;”.

6.2   Omit “payments of”.

6.3   Omit “31.25 cents”, substitute “31.4 cents”.

7.   New regulation 80A

After regulation 80, insert:

Rate of deductions—employee in receipt of retirement amounts etc. not included in regulation 80

“80A.

Where any salary or wages that an employee (other than an employee to whom regulation 81 applies) receives or is entitled to receive in respect of a week (or part of a week), consists of or includes an amount (‘Amount 1’) that:

• (a)

  is an amount to which section 26AC of the Act applies but is not an amount to which paragraph 80 (b) applies; or

• (b)

  is an assessable retirement amount for the purposes of the definition of ‘salary or wages’ in subsection 221A (1) of the Act but is not an amount to which paragraph 80 (c) applies;

the prescribed rate of deductions to be made for the purposes of section 221C of the Act by the employer from Amount 1 is the amount (being a multiple of 5 cents) that is, or is nearest to, the amount calculated as Amount 8 as follows:

Amount 2:	Amount 1 divided by 52;
Amount 3:	The salary or wages within the meaning of subsection 221A (1) of the Act payable to the employee by the employer in respect of the last full week of employment ending on or before the payment of Amount 1 less any amounts to which regulation 80 or this regulation applies;
Amount 4:	Amount 2 plus Amount 3;
Amount 5:	The weekly tax instalment deductions appropriate to the employee under these Regulations for Amount 4;
Amount 6:	The weekly tax instalment deductions appropriate to the employee under these Regulations for Amount 3;
Amount 7:	Amount 5 less Amount 6;
Amount 8:	52 times Amount 7.”.

8.   Regulation 82 (Rate of deductions where eligible lump sum is included)

8.1   Omit “22.25 cents”, substitute “22.4 cents”.

9.   Schedule 3

9.1   Omit the Schedule, substitute:

SCHEDULE 3

Regulation 71

Tables to be used in calculation of income tax instalment amounts in relation to employees

TABLE 1—EMPLOYEES TO WHOM PARAGRAPH

72 (1) (c) APPLIES

Column 1	Column 2	Column 3	Column 4
Item	Range in respect of relevant amount of earnings of employee	Factor	Amount
$
1	Not exceeding $98.99	0	0
2	Exceeding $98.99 but not exceeding $239.99	0.2031	20.1900
3	Exceeding $239.99 but not exceeding $257.99	0.4062	68.9915
4	Exceeding $257.99 but not exceeding $391.99	0.2173	20.1863
5	Exceeding $391.99 but not exceeding $723.99	0.3540	73.7727
6	Exceeding $723.99 but not exceeding $954.99	0.4440	138.9881
7	Exceeding $954.99	0.4840	177.2035

SCHEDULE 3—continued

TABLE 2—EMPLOYEES TO WHOM PARAGRAPH

73 (1) (c) APPLIES

Column 1	Column 2	Column 3	Column 4
Item	Range in respect of relevant amount of earnings of employee	Factor	Amount
$
1	Not exceeding $98.99	0	0
2	Exceeding $98.99 but not exceeding $391.99	0.2031	20.19
3	Exceeding $391.99 but not exceeding $723.99	0.3400	73.86
4	Exceeding $723.99 but not exceeding $954.99	0.4300	139.07
5	Exceeding $954.99	0.4700	177.29

SCHEDULE 3—continued

TABLE 3—EMPLOYEES TO WHOM PARAGRAPH

73 (1) (d) APPLIES

Column 1	Column 2	Column 3	Column 4
Item	Range in respect of relevant amount of earnings of employee	Factor	Amount
$
1	Not exceeding $98.99	0	0
2	Exceeding $98.99 but not exceeding $391.99	0.2031	20.1900
3	Exceeding $391.99 but not exceeding $403.99	0.3400	73.8576
4	Exceeding $403.99 but not exceeding $434.99	0.4400	114.3307
5	Exceeding $434.99 but not exceeding $723.99	0.3470	73.8149
6	Exceeding $723.99 but not exceeding $954.99	0.4370	139.0303
7	Exceeding $954.99	0.4770	177.2457

SCHEDULE 3—continued

TABLE 4—EMPLOYEES TO WHOM REGULATION 77 APPLIES

Column 1	Column 2	Column 3	Column 4
Item	Range in respect of relevant amount of earnings of employee	Factor	Amount
$
1	Not exceeding $106.99	0.2140	0.2140
2	Exceeding $106.99 but not exceeding $439.99	0.3540	15.2909
3	Exceeding $439.99 but not exceeding $670.99	0.4440	54.9255
4	Exceeding $670.99	0.4840	81.7717

SCHEDULE 3—continued

TABLE 5—EMPLOYEES TO WHOM REGULATION 78 APPLIES

Column 1	Column 2	Column 3	Column 4
Item	Range in respect of relevant amount of earnings of employee	Factor	Amount
$
1	Not exceeding $397.99	0.29	0.29
2	Exceeding $397.99 but not exceeding $729.99	0.34	20.19
3	Exceeding $729.99 but not exceeding $960.99	0.43	85.96
4	Exceeding $960.99	0.47	124.42

NOTES

1. Notified in the Commonwealth of Australia Gazette on 5 November 1993.

 

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.

NOTES— continued

 

 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, 300, 301, 390 and 391; 1992 Nos. 38, 129, 216, 313 and 449; 1993 Nos. 15, 46, 47, 65, 91, 159, 202, 216 and 275.