Taxation Administration Act 1953 Withholding Schedules 2013 (Cth)

Australian Taxation Office

Taxation Administration Act 1953

Pay as you go withholding

Taxation Administration Act Withholding Schedules 2013 – Legislative Instrument

I, Erin Kathleen Holland, Deputy Commissioner of Taxation, make this instrument under section 15-25 of Schedule 1 to the Taxation Administration Act 1953.

Signed on the 28^th of May 2013

Erin Holland

Deputy Commissioner of Taxation

Commencement

This instrument commences on 1 July 2013.

Purpose

(1) Withholding schedules specify the amounts, formulas and procedures to be used for working out the amount required to be withheld by an entity from a withholding payment covered by Subdivision 12-B, 12-C or 12-D of Schedule 1 to the Taxation Administration Act 1953.

(2)            The withholding schedules in this instrument are made for the purposes of collecting income tax, Medicare levy and amounts of liabilities to the Commonwealth under the Higher Education Support Act 2003, the Social Security Act 1991 and the Student Assistance Act 1973.

(3) This legislative instrument also revokes Taxation Administration Act 1953 – tax table for employment termination payments (FRLI number: F2012L01427 registered on 29 June 2012).

Withholding Schedules

Each of the withholding schedules listed in the following table, has effect:

Schedule number	NAT number	Title
11	2173-05.2013	Higher Education Loan Program weekly tax table Including statement of formulas for calculating weekly and monthly withholding
12	2185-05.2013	Higher Education Loan Program fortnightly tax table Including statement of formulas
14	2335-05.2013	Statement of formulas for calculating Higher Education Loan Program (HELP) component Including coefficients for calculating weekly withholding amounts incorporating HELP component
16	3305-05.2013	Statement of formulas for calculating Student Financial Supplement Scheme (SFSS) component Including coefficients for calculating weekly withholding amounts incorporating SFSS component
17	3306-05.2013	Student Financial Supplement Scheme weekly tax table Including formulas for calculating monthly withholding
18	3307-05.2013	Student Financial Supplement Scheme fortnightly tax table Including statement of formulas
21	3539-05.2013	Calculating Higher Education Loan Program in conjunction with Student Financial Supplement Scheme The coefficients in this table should be used together with the Statement of formulas for calculating amounts to be withheld (NAT1004)
22	4466-05.2013	Tax table for seniors and pensioners Use for payments to low income aged persons and pensioners
26	3347-05.2013	Tax table for return to work payments
29	3352-05.2013	Tax table for payments made under a voluntary agreement
32	70980-05.2013	Tax table for employment termination payments
40	5441-05.2013	Tax table for additional amounts to withhold as a result of an upwards variation

Revocation of current withholding schedules

The following withholding schedules are to be withdrawn:

Schedule number	NAT number	Title
11	2173-05.2012	Higher Education Loan Program weekly tax table Including statement of formulas for calculating weekly and monthly withholding
12	2185-05.2012	Higher Education Loan Program fortnightly tax table
14	2335-05.2012	Statement of formulas for calculating Higher Education Loan Program (HELP) component
16	3305-05.2012	Statement of formulas for calculating Student Financial Supplement Scheme (SFSS) component
17	3306-05.2012	Student Financial Supplement Scheme weekly tax table Including formulas for calculating monthly withholding
18	3307-05.2012	Student Financial Supplement Scheme fortnightly tax table Including statement of formulas
21	3539-05.2012	Calculating Higher Education Loan Program in conjunction with Student Financial Supplement Scheme The coefficients in this table should be used together with the Statement of formulas for calculating amounts to be withheld (NAT1004)
22	4466-05.2012	Tax table for seniors and pensioners Use for payments to low income aged persons and pensioners
26	3347-05.2006	Tax table for return to work payments
29	3352-11.2005	Tax table for payments made under a voluntary agreement
32	70980-05.2012	Tax table for employment termination payments