Income Tax Regulations (Amendment) (Cth)

STATUTORY RULES.

1945. No. 169.

 

REGULATIONS UNDER THE INCOME TAX ASSESSMENT ACT 1936-1945.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Income Tax Assessment Act 1936-1945.

Dated this thirty-first day of October, 1945.

HENRY

Governor-General.

By His Royal Highness’s Command,

J. B. CHIFLEY

Treasurer.

 

Amendments of the Income Tax Regulations. 

Parts.

1. Regulation 2 of the Income Tax Regulations is amended by omitting the following words:—

“Part VI.—Collection and Recovery of Tax.

Division 1.—General.

Division 2.—Rates of Deductions from Salaries or Wages of Employees.

Division 3.—Group Employers.

Division 4.—Tax Stamps.”

and inserting in their stead the following words:—

“Part VI.—Collection and Recovery of Tax.

Division 1.—General.

Division 2.—Collection of Income Tax by Instalments—

Sub-division A.—Rates of Deductions from Salaries or

Wages of Employees.

Sub-division B.—Group Employers.

Sub-division C.—Tax Stamps.

Division 3.—Provisional Tax.”.

Particulars relating to sources of information.

2. Regulation 33 of the Income Tax Regulations is amended by omitting from sub-regulation (2.) the words “the last preceding sub-regulation” and inserting in their stead the words “sub-regulation (1.) of this regulation”.

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* Notified in the Commonwealth Gazette on 1st November, 1945.

  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; and 1945, Nos. 12 and 85.

6034.—Price 3d.

Heading.

3. The Income Tax Regulations are amended by omitting the heading to Division 2 of Part VI. and inserting in its stead the following heading and sub-heading:—

“Division 2.—Collection of Income Tax by Instalments.

Sub-division A.—Rates of Deductions from Salaries or Wages of Employees.”.

Headings.

4. The Income Tax Regulations are amended—

(a) by omitting the heading to Division 3 of Part VI. and inserting in its stead the following heading:—

“Sub-division B.—Group Employers.”; and

(b) by omitting the heading to Division 4 of that Part, and inserting in its stead the following heading:—

“Sub-division C.—Tax Stamps.”.

Definitions.

5. Regulation 54p of the Income Tax Regulations is amended by omitting the word “Division” and inserting in its stead the word “Sub-division”.

Application of section 221kd of the Act.

6. Regulation 54q of the Income Tax Regulations is amended by omitting from sub-regulation (1.) the word “Division” and inserting in its stead the word “Sub-division”.

Tax checks not to be detached.

7. Regulation 54s of the Income Tax Regulations is amended by omitting the word “Division” and inserting in its stead the word “Sub-division”.

8. The Income Tax Regulations are amended by adding at the end of Part VI the following Division:—

“Division 3.—Provisional Tax.

“Provisional Tax for year of income 1945-1946.

54ag. For the purpose of ascertaining the amount of provisional tax payable by a taxpayer in accordance with the provisions of section 221yc of the Act in respect of the income of the year of income being the year ending on the thirtieth day of June, One thousand nine hundred and forty-six or the accounting period (if any) adopted under the Act in lieu of that year, the income tax assessed in respect of the income derived by the taxpayer during the year next preceding that year of income shall be deemed to have been the amount actually assessed, reduced by the lesser of the following amounts:—

(1) An amount equal to the sum of the following:—

(a) Six and one-quarter per centum of the income tax so assessed; and

(b)Nine pence for every pound of the taxable income of that next preceding year of income; and

(2) An amount equal to fifty per centum of the income tax so assessed,

and the provisional tax payable apart from this regulation in respect of the income of that first-mentioned year of income shall be decreased accordingly.”.

 

By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.