Income Tax Regulations (Amendment)

STATUTORY RULES.

1942. No. 339.

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REGULATIONS UNDER THE INCOME TAX ASSESSMENT ACT 1936-1942.*

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 1936-1942.

Dated this twenty-ninth day of July, 1942.

Governor-General.

By His Excellency’s Command,

Treasurer.

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Amendment of the Income Tax Regulations.†

Commencement.

1. These Regulations shall commence on the first day of August, One thousand nine hundred and forty-two.

Parts.

2. Regulation 2 of the Income Tax Regulations is amended by omitting the words “Part VIIa.—War Tax.”.

Returns by persons other than companies.

3. Regulation 10 of the Income Tax Regulations is amended—

(a) by omitting from paragraph (b) the words “Concessional Deductions” and inserting in their stead the words “Concessional Allowances subject to Rebate of Tax”;

(b) by omitting from paragraph (d) the word “Deduction” (wherever occurring) and inserting in its stead the word “Allowance”; and

(c) by omitting from paragraph (d) the word “Deductions” (wherever occurring) and inserting in its stead the word “Allowances”.

Returns by companies.

4. Regulation 11 of the Income Tax Regulations is amended by omitting from sub-paragraph (iii) of paragraph (c) of sub-regulation (2.) the words “Two hundred pounds” (wherever occurring) and inserting in their stead the words “One hundred and fifty-six pounds”.

5. Regulation 54a of the Income Tax Regulations is repealed and the following regulation inserted in its stead:—

Rates of deductions where no dependants.

“54a. Where the salary or wages payable to an employee in respect of any week or part thereof exceed Three pounds, the rates at which

* Notified in the Commonwealth Gazette on , 1942

† Statutory Rules 1936, No. 94, as amended by Statutory Rules 1939, Nos. 6 and 42; 1940, Nos. 138 and 289; and 1941, Nos. 120 and 327.

the employer shall make deductions for the purposes of section 221c of the Act shall be—

(a) where the salary or wages dues not exceed Thirty pounds ten shillings in accordance with sub-column (i) of column 2 of the Third Schedule to these Regulations; or

(b) where the salary or wages exceed Thirty pounds ten shillings —eight shillings for every pound or part of a pound in excess of ten shillings.”.

Rates of deductions where employee has dependants.

6. Regulation 54b of the Income Tax Regulations is amended—

(a) by omitting from sub-regulation (1.) the word “reduced”;

(b) by omitting paragraphs (a), (b) and (c) of sub-regulation

(1.) and inserting in their stead the following paragraphs:—

“(a) if the salary or wages does not exceed Thirty pounds ten shillings and the number of dependants described in the declaration does not exceed six—the amount set out in such of the sub-columns of column 2 of the Third Schedule to these Regulations as accords with the number of dependants described in the declaration;

“(b) if the salary or wages does not exceed Ten pounds ten shillings and the number of dependants described in the declaration exceeds six—the amount set out in sub-column (vii) of column 2 of the Third Schedule to these Regulations, less an amount of two shillings for each such dependant in excess of six;

“(c) if the salary or wages exceeds Ten pounds ten shillings but does not exceed Thirty pounds ten shillings and the number of dependants described in the declaration exceeds six—the amount set out in sub-column (vii) of column 2 of the Third Schedule to these Regulations, less an amount of three shillings for each such dependant in excess of six; and

“(d) if the salary or wages exceeds Thirty pounds ten shillings—eight shillings for each pound or part of a pound in excess of ten shillings less—

(i) in respect of the first dependant described in the declaration—sixteen shillings;

(ii) in respect of the second dependant described in the declaration—twelve shillings; and

(iii) in respect of each additional dependant described in the declaration—three shillings.”; and

(c) by omitting, from sub-regulation (3.) all the words after the word “employee,” and inserting in their stead the words “paragraph (a), (b) or (c) of sub-section (2.) of section 160 of the Act applies”.

Manner of furnishing declaration for purpose of obtaining certificate.

7. Regulation 54e of the Income Tax Regulations is amended by omitting the figure and symbols “(1a.)” and inserting in their stead the figure and symbols “(2.)”.

Repeal of Part VIIA.

8. Part VIIa. of the Income Tax Regulations is repealed.

Schedules.

9. The Third and Fourth Schedules the Income Tax Regulations are repealed and the following Schedule inserted in their stead:—

“THE THIRD SCHEDULE.

Rates of Deductions.

The Third Schedule—continued.

Rates of Deductions—continued.

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