Taxation Administration Act Withholding Schedules 2014 (Cth)

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Australian Taxation Office

Taxation Administration Act 1953

Pay as you go withholding

Taxation Administration Act Withholding Schedules 2014 – Legislative Instrument

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

Signed on the 29th of May 2014

Steve Vesperman

Deputy Commissioner of Taxation

Commencement

This instrument commences on 1 July 2014.

Purpose

(1) Withholding schedules specify the formulas and procedures to be used for working out the amount to be withhold 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, Temporary Budget Repair 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)          The withholding schedules in this instrument replace schedules which currently apply. This instrument revokes those schedules.

Withholding Schedules

Each of the withholding schedules listed in the following table, has effect from the date of commencement of this instrument.:

Schedule number Quick code number Title
1 39407 Statement of formulas for calculating amounts to be withheld
2 39416 Tax table for individuals employed in the horticultural or shearing industry
3 39417 Tax table for actors, variety artists and other entertainers
4 39427 Tax table for return to work payments
5 39428 Tax table for back payments, commissions, bonuses and similar payments
6 39429 Tax table for annuities
7 39430 Tax table for unused leave payments on termination of employment
8 39431 Statement of formulas for calculating Higher Education Loan Program (HELP) and  Student Financial Supplement Scheme (SFSS) components
9 39432 Tax table for seniors and pensioners
10 39433 Tax table for Joint Petroleum Development Area
11 39434 Tax table for employment termination payments
12 39435 Tax table for superannuation lump sums
13 39436 Tax table for superannuation income streams

Revocation of current withholding schedules

Each of the withholding schedules listed in the following table, is withdrawn:

Schedule number NAT number Title
1 1004-05-2012 Statement of formulas for calculation amounts to be withheld
2 1005-05-2012 Weekly tax table
3 1006-05-2012 Fortnightly tax table
5 1008-05-2012 Weekly tax table with no and half Medicare levy
6 1010-05-2012 Medicare levy adjustment weekly tax table
7 1011-05-2012 Medicare levy adjustment fortnightly tax table
24 1013-05-2012 Tax table for individuals employed in the horticultural or shearing industry
9 1023-05-2012 Tax table for actors, variety artists and other entertainers
10 1024-05-2012 Tax table for daily and casual workers
11 2173-05-2013 Higher Education Loan Program weekly tax table
12 2185-05-2013 Higher Education Loan Program fortnightly tax table
14 2335-05-2013 Statement of formulas for calculating Higher Education Loan Program (HELP) component
16 3305-05-2013 Statement of formulas for calculating Student Financial Supplement Scheme (SFSS) component
17 3306-05-2013 Student Financial Supplement Scheme (SFSS) weekly tax table
18 3307-05-2013 Student Financial Supplement Scheme (SFSS) fortnightly tax table
26 3347-05-2013 Tax table for return to work payments
30 3348-05-2013 Tax table for back payments, commissions, bonuses and similar payments
31 3350-05-2012 Tax table for annuities
28 3351-05-213 Tax table for unused leave payments on termination of employment
21 3539-05-2013 Calculating Higher Education Loan Program in conjunction with Student Financial Supplement Scheme
22 4466-05-2013 Tax table for seniors and pensioners
23 7288-05-2012 Tax table for Joint Petroleum Development Area
32 70980-05-2013 Tax table for employment termination payments
33 70981-05-2012 Tax table for superannuation lump sum
34 70982-05-2012 Tax table for superannuation income streams
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