Taxation Administration Amendment Regulations 2002 (No. 1)

(102 of 2002)

23 May 2002

Made under Taxation Administration Act 1953

1   Name of Regulations

These Regulations are the Taxation Administration Amendment Regulations 2002 (No. 1).

2   Commencement

These Regulations commence on 1 July 2002.

3   Amendment of Taxation Administration Regulations 1976

Schedule 1 amends the Taxation Administration Regulations 1976.

Schedule 1   Amendments

[1]   Part 5, Division 4, heading

substitute

Division 4 Dividend, interest, royalty, mining and certain superannuation payments

[2]   After regulation 43

insert in Division 4

43A Departing Australia superannuation payments

(1) For section 15-35 of Schedule 1 to the Act, the amount to be withheld under section 15-35 of Schedule 1 to the Act from a departing Australia superannuation payment is:

(a) for so much of the departing Australia superannuation payment as is an undeducted contribution or post-June 1994 invalidity component nil; and

(b) for so much of the departing Australia superannuation payment as is the untaxed element of the post-June 1983 component 40%; and

(c) for the remainder of the departing Australia superannuation payment 30%.

(2) A term that is used in this regulation and is defined in section 27A of the Income Tax Assessment Act 1936 has the same meaning in this regulation as it would have in that section if references to ETPs in that section included references to departing Australia superannuation payments.