INCOME TAX ASSESSMENT REGULATIONS 1997

PART 2 - LIABILITY RULES OF GENERAL APPLICATION  

Division 51 - Exempt amounts  

REGULATION 51-42.01   BONUSES FOR EARLY COMPLETION OF AN APPRENTICESHIP  

51-42.01(1)  
In this regulation:

expected completion date
means the date on which an apprentice for a trade, occupation or kind of work would ordinarily be expected to complete an apprenticeship for that trade, occupation or kind of work.

full time apprentice
means an apprentice whose ordinary hours of employment in a trade, occupation or kind of work, incorporating both work and training components, are at least equal to those hours which are regarded as full-time for an apprentice in that trade, occupation or kind of work.

part time apprentice
means an apprentice whose ordinary hours of employment in a trade, occupation or kind of work, incorporating both work and training components, are less than those hours worked by a full-time apprentice in that industry, trade, occupation or kind of work.

51-42.01(2)  
For section 51-42 of the Act, the early completion bonus program administered by the Government of the State of Queensland is specified.

Note:

Information about the early completion bonus program can be found at the following website http://www.trainandemploy.qld.gov.au.

51-42.01(3)  
For paragraph 51-42(2)(a) of the Act, version 3 of the eligible skill shortage occupation list dated 17 March 2008, which is administered by the Government of the State of Queensland and set out at http://www.trainandemploy.qld.gov.au, is specified.

51-42.01(4)  
For paragraph 51-42(2)(b) of the Act, the following timeframe is specified:


(a) for a full-time apprentice - at least 6 months before the expected completion date;


(b) for a part-time apprentice - at least 12 months before the expected completion date.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.