Income Tax Regulations (Amendment) (Cth)

  

Statutory Rules 1989

No. 801

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Income Tax Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Income Tax Assessment Act 1936.

Dated 27 April 1989.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

PAUL KEATING

Treasurer

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1. After Division 5 of Part VI of the Income Tax Regulations the following Division is inserted:

“Division 6—Rate of deduction for car expenses

Interpretation

“55. In this Division, unless the contrary intention appears, ‘car’ has the same meaning as in Subdivision F of Division 3 of Part III of the Act.

Prescribed rate for the purposes of section 82kx of the Act

“56, For the purposes of section 82kx of the Act. the prescribed rate applicable to the engine capacity of a car falling within the range specified:

(a) in the case of a car not powered by a rotary engine in Column 2; or

(b) in the case of a car powered by a rotary engine in Column 3; of an item in Schedule 8 is, in relation to the year or years of income specified in the heading to the part of that Schedule in which that item appears, the rate specified in Column 4 of that item.”.

Schedule 8

2.The Income Tax Regulations are amended by adding at the end the following Schedule:

SCHEDULE 8 Regulation 56

PRESCRIBED RATE OF DEDUCTION FOR CAR EXPENSES

Column 1	Column 2	Column 3	Column 4
Item No.	Engine capacity of car not powered by a rotary engine (cubic centimetres)	Engine capacity of car powered by a rotary engine (cubic centimetres)	Prescribed rate (cents)
PART 1 YEAR OF INCOME COMMENCING ON 1 JULY 1986
1	Not exceeding 1500	Not exceeding 750	26.1
2	Exceeding 1500 but not exceeding 2000	Exceeding 750 but not exceeding 1000	30.5
3	Exceeding 2000 but not exceeding 4000	Exceeding 1000 but not exceeding 2000	35.0
4	Exceeding 4000	Exceeding 2000	36.2
PART II YEAR OF INCOME COMMENCING ON 1 JULY 1987
5	Not exceeding 1500	Not exceeding 750	28.9
6	Exceeding 1500 but not exceeding 2000	Exceeding 750 but not exceeding 1000	33.8
7	Exceeding 2000 but not exceeding 4000	Exceeding 1000 but not exceeding 2000	38.8
8	Exceeding 4000	Exceeding 2000	40.1

NOTES

1. Notified in the Commonwealth of Australia Gazette on 4 May 1989.

2. Statutory Rules 1936 No. 94 as amended to date. For previous amendments see Note 2 to Statutory Rules 1989 No. 67 and see also