Income Tax Regulations (Amendment) (Cth)
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I, The Governor-General of the Commonwealth of Australia, acting with the advice of the
Federal Executive Council, make the following Regulations under the
Dated 25 June 1996.
WILLIAM DEANE
Governor-General
By His Excellency’s Command,
JIM SHORT
Assistant Treasurer
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1.1 These Regulations commence on 1 July 1996.
2.1 The Income Tax Regulations are amended as set out in these Regulations.
3.1 Subparagraph 82B (3) (b) (i):
Omit the subparagraph, substitute:
“(i) multiplied by:
(A) if the relevant amount of earnings exceeds amount A referred to in paragraph (4) (a), but does not exceed amount B referred to in paragraph (4) (b)—3%; or
(B) if the relevant amount of earnings exceeds amount B referred to in paragraph (4) (b), but does not exceed amount C referred to in paragraph (4) (c)—3.5%; or
(C) if the relevant amount of earnings exceeds amount C referred to in paragraph (4) (c), but does not exceed amount D referred to in paragraph (4) (d)—4%; or
(D) if the relevant amount of earnings exceeds amount D referred to in paragraph (4) (d), but does not exceed amount E referred to in paragraph (4) (e)—4.5%; or
(E) if the relevant amount of earnings exceeds amount E referred to in paragraph (4) (e), but does not exceed amount F referred to in paragraph (4) (f)—5%; or
(F) if the relevant amount of earnings exceeds amount F referred to in paragraph (4) (f), but does not exceed amount G referred to in paragraph (4) (g)—5.5%; or
(G) if the relevant amount of earnings exceeds amount G referred to in paragraph (4) (g)—6%; and”.
3.2 Subregulation 82B (4):
Omit the subregulation, substitute:
“
(a) amount A is calculated as follows:
(i) identify the minimum prescribed amount under paragraph 106Q (4) (a) of the
Higher Education Funding Act 1988 for the year of income;(ii) divide the amount by 52.806;
(iii) round the result down to the nearest whole dollar and then add $0.99;
(b) amount B is calculated as follows:
(i) identify the first intermediate prescribed amount under paragraph 106Q (4) (b) of the
Higher Education Funding Act 1988 for the year of income;(ii) divide the amount by 52.806;
(iii) round the result down to the nearest whole dollar and then add $0.99;
(c) amount C is calculated as follows:
(i) identify the second intermediate prescribed amount under paragraph 106Q (4) (c) of the
Higher Education Funding Act 1988 for the year of income;(ii) divide the amount by 52.806;
(iii) round the result down to the nearest whole dollar and then add $0.99;
(d) amount D is calculated as follows:
(i) identify the third intermediate prescribed amount under paragraph 106Q (4) (ca) of the
Higher Education Funding Act 1988 for the year of income;(ii) divide the amount by 52.806;
(iii) round the result down to the nearest whole dollar and then add $0.99;
(e) amount E is calculated as follows:
(i) identify the fourth intermediate prescribed amount under paragraph 106Q (4) (cb) of the
Higher Education Funding Act 1988 for the year of income;(ii) divide the amount by 52.806;
(iii) round the result down to the nearest whole dollar and then add $0.99;
(f) amount F is calculated as follows:
(i) identify the fifth intermediate prescribed amount under paragraph 106Q (4) (cc) of the
Higher Education Funding Act 1988 for the year of income;(ii) divide the amount by 52.806;
(iii) round the result down to the nearest whole dollar and then add $0.99;
(g) amount G is calculated as follows:
(i) identify the maximum prescribed amount under paragraph 106Q (4) (cd) of the
Higher Education Funding Act 1988 for the year of income;(ii) divide the amount by 52.806;
(iii) round the result down to the nearest whole dollar and then add $0.99.
[NOTE: At 1 July 1996:
(a) Amount A is $539.99 for the year of income ending on 30 June 1997; and
(b) Amount B is $569.99 for the year of income ending on 30 June 1997; and
(c) Amount C is $613.99 for the year of income ending on 30 June 1997; and
(d) Amount D is $711.99 for the year of income ending on 30 June 1997; and
(e) Amount E is $858.99 for the year of income ending on 30 June 1997; and
(f) Amount F is $903.99 for the year of income ending on 30 June 1997; and
(g) Amount G is $971.99 for the year of income ending on 30 June 1997.]”.
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1. Notified in the
Commonwealth of Australia Gazette on 28 June 1996.2. 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 (repealed by 1956 No. 96) 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; Acts Nos. 28, 49 and 112, 1986; Statutory Rules 1987 Nos. 92 and 120; 1988 Nos. 196, 208, 262, 381, 382, 383 and 384; Act No. 97, 1988; Statutory Rules 1989 Nos. 67, 80, 115 (as amended by 1989 No. 358), 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, 275, 288 and 370; 1994 Nos. 95, 96, 127, 174, 195, 219, 399, 412, 460, 461 and 462; 1995 Nos. 58, 107, 139, 152, 153, 194, 316, 356, 381, 382, 383 and 447; Act No. 30, 1995; Statutory Rules 1996 Nos. 38, 56 and 114.
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