PART 1 - PRELIMINARY
History
Pt 1, formerly Pt I, renumbered by SR No 192 of 1990.
REGULATION 1
1
NAME OF REGULATIONS
These Regulations are the
Income Tax Regulations 1936.
History
Reg 1 substituted by SR No 348 of 1998.
REGULATION 2
2
DEFINITIONS
In these Regulations:
Act
means the Income Tax Assessment Act 1936.
ESS interest
has the meaning given by subsection 83A-10(1) of the Income Tax Assessment Act 1997.
History
Reg 2 substituted by SLI No 39 of 2015, reg 4 and Sch 1 item 12, effective 1 July 2015. Reg 2 formerly read:
REGULATION 2 INTERPRETATION
2(1)
In these Regulations, unless the contrary intention appears:
ABN
(Australian Business Number) has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.
History
Definition of "ABN" inserted by SR No 72 of 2000.
effective
, in relation to an address, means that the person to whom the address relates will receive documents delivered to the address.
History
Definition of "effective" inserted by SR No 289 of 2001.
ESS interest
has the meaning given by subsection 83A-10(1) of the Income Tax Assessment Act 1997.
History
Definition of "ESS interest" inserted by SLI No 7 of 2010, reg 3 and Sch 1 item 1, effective 1 July 2009.
employment declaration
(Repealed by SR No 72 of 2000)
preferred address for service
has the meaning given by regulation 36.
History
Definition of "preferred address for service" inserted by SR No 289 of 2001.
RSA Regulations
(Repealed by SLI No 4 of 2011)
History
Definition of "RSA Regulations" repealed by SLI No 4 of 2011, reg 3 and Sch 1 item 1, effective 15 February 2011. The definition formerly read:
RSA Regulations
means the Retirement Savings Accounts Regulations 1997.
Definition of "RSA Regulations" inserted by SLI No 327 of 2005, reg 3 and Sch 1 item 1, effective 1 January 2006.
SIS Regulations
(Repealed by No SLI No 4 of 2011)
History
Definition of "SIS Regulations" repealed by SLI No 4 of 2011, reg 3 and Sch 1 item 1, effective 15 February 2011. The definition formerly read:
SIS Regulations
means the Superannuation Industry (Supervision) Regulations 1994.
Definition of "SIS Regulations" inserted by SLI No 327 of 2005, reg 3 and Sch 1 item 1, effective 1 January 2006.
tax file number
, in relation to an employee, means the number that is the employee's tax file number for the purposes of Part VA of the Act;
the Act
means the Income Tax Assessment Act 1936.
2(2)
(Repealed by SLI No 36 of 2011)
History
Reg 2(2) repealed by SLI No 36 of 2011, reg 4 and Sch 2 item 1, effective 17 December 2010. Reg 2(2) formerly read:
2(2)
In these Regulations, unless the contrary intention appears, any reference to a Form shall be read as a reference to a Form contained in Schedule 1.
2(3)
If:
(a)
a provision of these Regulations requires the number of cents in an amount to be worked out to the nearest 5 cents; and
(b)
an amount to which the provision applies is not a whole number that ends in a 0 or a 5;
the provision is satisfied if the amount is rounded to the nearest number of whole cents ending in a 0 or a 5, and if the amount to be rounded ends in 2.5 or 7.5, rounded up.
Reg 2(3) inserted by SR No 141 of 1997.
Reg 2, formerly reg 3, renumbered by SR No 192 of 1990.
[Note: The following history notes for the pre-1 July 1990 amendments to this Regulation reflect its former numbering.]
Definition of "employment declaration" inserted by Act No 97 of 1988.
Definition of "prescribed delegate of the Commissioner" omitted by SR No 123 of 1989.
Definition of "tax file number" inserted by Act No 97 of 1988.
Reg 3(1) substituted by SR No 384 of 1988.
Reg 3(2) amended by SR No 384 of 1988.
PART 2 - ADMINISTRATION
History
Pt 2 repealed by SLI No 36 of 2011, reg 4 and Sch 2 item 2, effective 17 December 2010.
Pt 2, formerly Pt II, renumbered by SR No 192 of 1990.
REGULATION 3
3
OATH OR DECLARATION BY OFFICERS
(Repealed by SLI No 36 of 2011)
History
Reg 3 repealed by SLI No 36 of 2011, reg 4 and Sch 2 item 2, effective 17 December 2010. Reg 3 formerly read:
REGULATION 3 OATH OR DECLARATION BY OFFICERS
3
The Oath or Declaration which an officer may be required to make in pursuance of subsection 16(6) of the Act shall be in accordance with Form 1 or Form 2, as the case may be.
Reg 3, formerly reg 4, renumbered by SR No 192 of 1990.
Regulation formally amended by SR No 384 of 1988.
PART 3 - LIABILITY TO TAXATION
Archived:
Reg 4 and 5 repealed as inoperative by SLI No 216 of 2006, reg 3 and Sch 1 item 1, effective 14 September 2006. For former wording see the CCH Australian Income Tax Legislation archive.
History
Pt 3, formerly Pt III, renumbered by SR No 192 of 1990.
REGULATION 6
6
PRESCRIBED CLASS OF PERSONS (ACT, SUBSECTION 23AB(2))
For subsection
23AB(2) of the Act, members of the Australian Federal Police who are members of the force, created by the United Nations, for keeping peace in Cyprus are a prescribed class of persons.
History
Reg 6 substituted by SLI No 39 of 2015, reg 4 and Sch 1 item 13, effective 1 July 2015. Reg 6 formerly read:
REGULATION 6 PRESCRIBED CLASSES OF PERSONS (ACT, SUBSECTION 23AB(2))
6(1)
For subsection 23AB(2) of the Act, the following classes of persons are prescribed:
(a)
members of the Australian Federal Police who are members of the force, created by the United Nations, for keeping peace in Cyprus;
(b)
Australian residents serving with UNMIT in Timor-Leste on or after 25 August 2006.
6(2)
For paragraph (1)(b):
UNMIT
means the United Nations Integrated Mission in Timor-Leste, established by the United Nations Security Council on 25 August 2006.
Reg 6 substituted by SLI No 156 of 2009, reg 3 and Sch 1 item 1, effective 26 June 2009. Reg 6 formerly read:
REGULATION 6 PRESCRIBED CLASSES OF PERSONS (ACT, SECTION 23AB)
6(1)
For subsection 23AB(2) of the Act, the following classes of persons are prescribed:
(a)
members of the Australian Federal Police who are members of the force, created by the United Nations, for keeping peace in Cyprus; and
(b)
members of the Australian Federal Police performing service with the United Nations Operation in Mozambique in the period from 27 March 1994 to 10 December 1994 (inclusive); and
(c)
members of the Australian Federal Police performing service with the Multinational Force in Haiti in the period from 5 November 1994 to 21 March 1995 (inclusive); and
(d)
Australian residents serving with UNTAET in East Timor on or after 23 February 2000.
6(2)
For paragraph (1)(d):
UNTAET
means the United Nations Transitional Administration in East Timor established by the United Nations Security Council on 25 October 1999.
History
Reg 6(2) inserted by SR No 104 of 2001.
Reg 6 amended by SR No 104 of 2001 and SR No 274 of 1996, substituted by SR No 356 of 1995, renumbered by SR No 192 of 1990, and amended by SR No 123 of 1989.
REGULATION 7
7
TERMINATION DATES OF OPERATIONAL AREAS (ACT, SUBSECTION 23AC(7))
(Repealed by SLI No 39 of 2015)
History
Reg 7 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 14, effective 1 July 2015. Reg 7 formerly read:
REGULATION 7 TERMINATION DATES OF OPERATIONAL AREAS (ACT, SUBSECTION 23AC(7))
7
For the purposes of paragraph (b) of the definition of
"termination date"
in subsection 23AC(7) of the Act:
(a)
7 October 1993 is the termination date in respect of Cambodia (being the operational area specified in subsection 23AC(6B) of the Act); and
(b)
30 November 1994 is the termination date in respect of Somalia (being the operational area specified in subsection 23AC(6D) of the Act); and
(c)
23 January 1997 is the termination date in respect of the former Yugoslavia (being the operational area specified in subsection 23AC(6C) of the Act).
Reg 7 amended by SR No 270 of 1997 and inserted by SR No 356 of 1995.
Former reg 7 omitted by SR No 390 of 1990.
Reg 7, formerly reg 4ACA, renumbered by SR No 192 of 1990.
Regulation inserted by SR No 19 of 1990.
REGULATION 7A
7A
DECLARATION OF ELIGIBLE DUTY
For subsection 23AD(2) and subparagraph 23AD(3)(b)(iii) of the Act, duty with an organisation specified in an item of the following table is eligible duty if:
(a)
the duty is in an area specified in the item; and
(b)
the duty occurs:
(i)
after the day specified in column 3 of the item; and
(ii)
before the day (if any) specified in column 4 of the item.
Eligible duty
|
Item
|
Column 1 Organisation
|
Column 2
Area
|
Column 3
After the day
|
Column 4 Before the day
|
1 |
Australian Defence Force on Operation Accordion |
The land area, territorial waters, airspace and superjacent airspace of the following countries: |
30 June 2014 |
1 July 2016 |
(a) |
the Kingdom of Bahrain; |
(b) |
the State of Qatar; |
(c) |
the United Arab Emirates. |
2 |
Australian Defence Force on Operation Augury |
The land area, territorial waters, airspace and superjacent airspace of the Hashemite Kingdom of Jordan. |
3 July 2014 |
3 |
Australian Defence Force on Operation Highroad |
The land area, territorial waters, airspace and superjacent airspace of Afghanistan. |
31 December 2014 |
1 July 2016 |
4 |
Australian Defence Force on Operation Manitou |
The sea (including adjacent ports and the area within a 10 kilometres radius of such ports) and superjacent airspace of: |
30 June 2014 |
1 July 2016 |
(a) |
the Arabian Sea north of latitude 11°00'00"S and west of longitude 68°00'00"E; and |
(b) |
the Gulf of Aden; and |
(c) |
the Gulf of Oman; and |
(d) |
the Persian Gulf; and |
(e) |
the Red Sea; and |
(f) |
the Strait of Hormuz. |
5 |
Australian Defence Force on Operation Okra |
The following areas: |
8 August 2014 |
1 July 2016 |
(a) |
the land area, territorial waters, airspace and superjacent airspace of the following countries: |
(i) |
Albania; |
(ii) |
Bosnia and Herzegovina; |
(iii) |
Bulgaria; |
(iv) |
Croatia; |
(v) |
Cyprus; |
(vi) |
Czech Republic; |
(vii) |
Estonia; |
(viii) |
Hungary; |
(ix) |
Iraq; |
(x) |
Kuwait; |
(xi) |
Montenegro; |
(xii) |
Poland; |
(xiii) |
Romania |
(xiv) |
the Hashemite Kingdom of Jordan; |
(xv) |
the Kingdom of Bahrain; |
(xvi) |
the State of Qatar; |
(xvii) |
the United Arab Emirates; |
(b) |
the waters and superjacent airspace of the Persian Gulf. |
6 |
United Nations - Assistance Mission in Afghanistan (Operation Palate II) |
The land area, territorial waters, airspace and superjacent airspace of Afghanistan. |
26 June 2005 |
1 January 2016 |
History
Reg 7A substituted by SLI No 78 of 2015, reg 4 and Sch 1 item 1, effective 2 June 2015. Reg 7A formerly read:
REGULATION 7A DECLARATION OF ELIGIBLE DUTY (ACT, SUBSECTION 23AD(2))
7A
For subsection 23AD(2) of the Act, each of the following is eligible duty:
(a)
(Repealed by SLI No 90 of 2014)
(aa)
duty with Operation Slipper starting on 20 February 2012 and ending at the end of 30 June 2014 in the area bounded by the following geographical coordinates:
(i)
39° 00' N 32° 00' E;
(ii)
39° 00' N 78° 00' E;
(iii)
23° 00' N 78° 00' E;
(iv)
23° 00' N 68° 00' E;
(v)
11° 00' S 68° 00' E;
(vi)
11° 00' S 38° 00' E;
(vii)
17° 00' N 38° 00' E;
(viii)
17° 00' N 32° 00' E;
(ab)duty with Operation Slipper in Afghanistan, including within the land territory, internal waters, airspace and superjacent airspace of Afghanistan, starting on 1 July 2014 and ending on 31 December 2014;
(b)
duty with the United Nations Assistance Mission in Afghanistan, including within the land territory, internal waters, airspace and superjacent airspace of Afghanistan, starting on or after 27 June 2005 and ending at the end of 31 December 2014 (Operation Palate II);
(c)
duty with Operation OKRA in Iraq, including within the land territory, internal waters, territorial sea, airspace and superjacent airspace of Iraq, starting on 9 August 2014 and ending on 30 June 2015;
(d)
duty with the Defence Force on Operation Highroad in Afghanistan, including within the land territory, internal waters, airspace and superjacent airspace of Afghanistan, after 31 December 2014 and before the end of 30 June 2015.
(e)-(f)
(Repealed by SLI No 90 of 2014)
Reg 7A amended by SLI No 211 of 2014, reg 4 and Sch 2 item 1, by inserting para (d), effective 17 December 2014.
Reg 7A amended by SLI No 176 of 2014, reg 4 and Sch 2 item 1, by inserting para (c), effective 18 November 2014.
Reg 7A amended by SLI No 90 of 2014, reg 4 and Sch 1 items 1-4, by repealing para (a), (d), (e) and (f), inserting para (ab) and substituting "(Operation Palate II)." for "(Operation Palate II);" in para (b), effective 14 June 2014. Para (a), (d), (e) and (f) formerly read:
(a)
duty with Operation Slipper starting on 31 July 2009 and ending at the end of 19 February 2012 in the area bounded by the following geographical coordinates:
(i)
39° 00' N 78° 00' E;
(ii)
39° 00' N 32° 00' E;
(iii)
05° 00' S 32° 00' E;
(iv)
05° 00' S 78° 00' E;
(d)
duty with Operation Kruger in Iraq starting on 1 January 2009 and ending at the end of 16 November 2011;
(e)
duty with Operation Riverbank in Iraq starting on 21 July 2008 and ending at the end of 31 December 2013;
(f)
duty that:
(i)
was with the multinational operational force established under the United Nations Security Council Resolutions 1970 and 1973 to enforce a no-fly-zone in relation to Libya; and
(ii)
started on 31 March 2011 and ended at the end of 31 October 2011; and
(iii)
was within the landmass, internationally recognised territorial waters and superjacent airspace of Libya.
Reg 7A amended by SLI No 201 of 2013, reg 4 and Sch 1 item 1, by substituting "31 December 2014" for "31 December 2013" in para (b), effective 7 August 2013.
Reg 7A amended by SLI No 129 of 2013, reg 4 and Sch 1 item 1, by substituting "30 June 2014" for "30 June 2013", effective 15 June 2013.
Reg 7A amended by SLI No 222 of 2012, reg 3 and Sch 1 item 1, by substituting para (a) and (aa) for para (a), effective 15 September 2012. Para (a) formerly read:
(a)
duty with Operation Slipper starting on 31 July 2009 and ending at the end of 30 June 2013 in the area bounded by the following geographical coordinates:
(i)
39° 00' N 78° 00' E;
(ii)
39° 00' N 32° 00' E;
(iii)
05° 00' S 32° 00' E;
(iv)
05° 00' S 78° 00' E;
Reg 7A amended by SLI No 115 of 2012, reg 3 and Sch 1 items 1 to 4, by substituting "30 June 2013" for "30 June 2012" in para (a), "31 December 2013" for "31 December 2012" in para (b) and "31 December 2013;" for "31 December 2012." in para (e), and inserting para (f), effective 19 June 2012.
Reg 7A amended by SLI No 110 of 2011, reg 3 and Sch 1 items 1 to 4, by substituting para (b), repealing para (c), substituting "16 November 2011;" for "30 June 2011;" in para (d) and "31 December 2012." for "31 December 2011." in para (e), effective 21 June 2011. Paras (b) and (c) formerly read:
(b)
duty with the United Nations Assistance Mission in Afghanistan, including within the land territory, internal waters, airspace and superjacent airspace of Afghanistan, on or after 27 June 2005 (Operation Palate II);
(c)
duty with Operation Catalyst, on or after 16 July 2003, within:
(i)
the total land areas, territorial waters, internal waterways and airspace boundaries of the following places:
(A)
Iraq;
(B)
Kuwait;
(C)
Bahrain;
(D)
Qatar;
(E)
United Arab Emirates;
(F)
Saudi Arabia (north of the geographic coordinate 23° 00' N); and
(ii)
the waters and airspace of the following places:
(A)
the Persian Gulf;
(B)
the Strait of Hormuz;
Reg 7A amended by SLI No 136 of 2010, reg 4 and Sch 2 items 1 and 2, by substituting paras (d) and (e), effective 16 June 2010. Paras (d) and (e) formerly read:
(d)
duty with Operation Kruger in Iraq from 1 January 2009 to 31 December 2010 (inclusive);
(e)
duty with Operation Riverbank in Iraq from 21 July 2008 to 31 December 2010 (inclusive).
Reg 7A amended by SLI No 136 of 2010, reg 3 and Sch 1 item 1, by substituting para (a), effective 31 July 2009. Para (a) formerly read:
(a)
duty with Operation Slipper, within at least 1 of the following specified areas, on or after 11 October 2001:
(i)
the area bounded by the following geographical coordinates:
(A)
48° 00' N 81° 00' E;
(B)
48° 00' N 35° 00' E;
(C)
12° 00' N 35° 00' E;
(D)
12° 00' N 81° 00' E;
(ii)
the Diego Garcia land mass and territorial waters;
(iii)
the greater of:
(A)
the airspace of Diego Garcia for a radius of 250 nautical miles from Reference Point 07° 18.6' S 072° 24.6' E; and
(B)
the declared Air Defence Identification Zone for Diego Garcia;
Reg 7A substituted by SLI No 156 of 2009, reg 3 and Sch 1 item 2, effective 26 June 2009. Reg 7A formerly read:
REGULATION 7A DECLARATION OF ELIGIBLE DUTY
7A
For subsection 23AD(2) of the Act, each of the following is eligible duty:
(a)
duty with the International Force East Timor (INTERFET) in East Timor from 16 September 1999 to 10 April 2000 (inclusive);
(b)
duty with INTERFET in the territorial sea of Indonesia adjacent to East Timor from 16 September 1999 to 10 April 2000 (inclusive);
(c)
duty with the United Nations Transitional Administration East Timor (
UNTAET
) in East Timor after 15 September 1999;
(d)
duty with UNTAET in the 12 nautical mile territorial sea adjacent to East Timor after 15 September 1999;
(e)
duty with Operation Slipper within at least 1 of the following specified areas, on or after 11 October 2001:
(i)
the area bounded by the following geographical coordinates:
•
48°00'N 81°00'E;
•
48°00'N 35°00'E;
•
12°00'N 35°00'E;
•
12°00'N 81°00'E;
(ii)
the Diego Garcia land mass and territorial waters;
(iii)
the greater of:
(A)
the airspace of Diego Garcia for a radius of 250 nautical miles from Reference Point 07°18.6'S 072°24.6'E; and
(B)
the declared Air Defence Identification Zone for Diego Garcia;
(f)
duty with the United Nations Mission of Support in East Timor (UNMISET) in either or both of:
(i)
East Timor; and
(ii)
the territorial sea of East Timor;
from 20 May 2002 to 17 August 2003 (inclusive);
(g)
duty with Operation Falconer, on or after 18 March 2003, within the area bounded by the following geographical coordinates:
•
38°00'N 68°00'E;
•
38°00'N 32°00'E;
•
10°00'N 32°00'E;
•
10°00'N 68°00'E;
(h)
duty with the United Nations Assistance Mission in Afghanistan, including the land territory, internal waters, airspace and superjacent airspace of Afghanistan, from 18 April 2003 to 5 July 2004 (inclusive) (Operation Palate);
(ha)
duty with the United Nations Assistance Mission in Afghanistan, including the land territory, internal waters, airspace and superjacent airspace of Afghanistan, on or after 27 June 2005 (Operation Palate II);
(i)
duty with Operation Catalyst, on or after 16 July 2003, within:
(i)
the total land areas, territorial waters, internal waterways and airspace boundaries of the following places:
(A)
Iraq;
(B)
Kuwait;
(C)
Bahrain;
(D)
Qatar;
(E)
United Arab Emirates;
(F)
Saudi Arabia (north of the geographic coordinate 23°00'N); and
(ii)
the waters and airspace of the following places:
(A)
the Persian Gulf;
(B)
the Strait of Hormuz.
Reg 7A amended by SLI No 59 of 2006, reg 3 and Sch 1 item 1, by substituting paras (h) and (ha) for para (h), effective 23 March 2006. Para (h) formerly read:
(h)
duty with Operation Palate in Afghanistan, including the airspace of Afghanistan, on or after 18 April 2003;
Reg 7A amended by SR No 80 of 2004, SR No 204 of 2003, SR No 44 of 2002, SR No 262 of 2000, SR No 117 of 2000, and inserted by SR No 39 of 2000.
REGULATION 7B
7B
PRESCRIBED STANDARDS - (ACT, PARAGRAPH 26AFB(2)(c))
(Repealed by SLI No 89 of 2007)
History
Reg 7B repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 1, effective 1 July 2007. Reg 7B formerly read:
REGULATION 7B PRESCRIBED STANDARDS - (ACT, PARAGRAPH 26AFB(2)(c))
7B
For paragraph 26AFB(2)(c) of the Act, the standards mentioned in Part 6 of the Superannuation Industry (Supervision) Regulations 1994 are prescribed.
Reg 7B inserted by SR No 169 of 2002.
REGULATION 8
8
APPROVED TRUSTEE
(Repealed by SLI No 89 of 2007)
History
Reg 8 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 1, effective 1 July 2007. Reg 8 formerly read:
REGULATION 8 APPROVED TRUSTEE
8
For the purposes of paragraph (f) of the definition of ``approved trustee'' in subsection 27A(1) of the Act, the Bank of New South Wales Nominees Pty. Limited is prescribed.
Reg 8, formerly reg 4ADA, renumbered by SR No 192 of 1990.
Regulation inserted by SR No 21 of 1985.
REGULATION 8A
8A
INTERDEPENDENCY RELATIONSHIPS (ACT S 27AAB)
(Repealed by SLI No 89 of 2007)
History
Reg 8A repealed by SLI No 89 of 2007, s 3 and Sch 1 item 1, effective 1 July 2007. Reg 8A formerly read:
REGULATION 8A INTERDEPENDENCY RELATIONSHIPS (ACT S 27AAB)
8A(1)
For paragraph 27AAB(3)(a) of the Act, the following matters are to be taken into account in determining whether 2 persons have an interdependency relationship, or had an interdependency relationship immediately before the death of 1 of the persons:
(a)
all of the circumstances of the relationship between the persons, including (where relevant):
(i)
the duration of the relationship; and
(ii)
whether or not a sexual relationship exists; and
(iii)
the ownership, use and acquisition of property; and
(iv)
the degree of mutual commitment to a shared life; and
(v)
the care and support of children; and
(vi)
the reputation and public aspects of the relationship; and
(vii)
the degree of emotional support; and
(viii)
the extent to which the relationship is one of mere convenience; and
(ix)
any evidence suggesting that the parties intend the relationship to be permanent;
(b)
the existence of a statutory declaration signed by one of the persons to the effect that the person is, or (in the case of a statutory declaration made after the end of the relationship) was, in an interdependency relationship with the other person.
8A(2)
For paragraph 27AAB(3)(b) of the Act, 2 persons have an interdependency relationship if:
(a)
they satisfy the requirements of paragraphs 27AAB(1)(a) to (c) of the Act; and
(b)
one or each of them provides the other with support and care of a type and quality normally provided in a close personal relationship, rather than by a mere friend or flatmate.
Examples of care normally provided in a close personal relationship rather than by a friend or flatmate
1. Significant care provided for the other person when he or she is unwell.
2. Significant care provided for the other person when he or she is suffering emotionally.
8A(3)
For paragraph 27AAB(3)(b) of the Act, 2 persons have an interdependency relationship if:
(a)
they have a close personal relationship; and
(b)
they do not satisfy the other requirements set out in subsection 27AAB(1) of the Act; and
(c)
the reason they do not satisfy the other requirements is that they are temporarily living apart.
Example for paragraph (3)(c)
One of the persons is temporarily working overseas or is in gaol.
8A(4)
For paragraph 27AAB(3)(b) of the Act, 2 persons have an interdependency relationship if:
(a)
they have a close personal relationship; and
(b)
they do not satisfy the other requirements set out in subsection 27AAB(1) of the Act; and
(c)
the reason they do not satisfy the other requirements is that either or both of them suffer from a disability.
8A(5)
For paragraph 27AAB(3)(b) of the Act, 2 persons do not have an interdependency relationship if 1 of them provides domestic support and personal care to the other:
(a)
under an employment contract or a contract for services; or
(b)
on behalf of another person or organisation such as a government agency, a body corporate or a benevolent or charitable organisation.
Reg 8A inserted by SLI No 262 of 2005.
REGULATION 9
9
PRESCRIBED LIFE TABLES - SUBSECTION 27H(4) OF THE ACT
For the purposes of the definition of
life expectation factor
in subsection
27H(4) of the Act, the following Australian Life Tables published by the Australian Government Actuary are prescribed:
(a)
for an annuity first commencing to be payable before 1 September 1988 - the Australian Life Tables 1975-1977;
(b)
for an annuity first commencing to be payable on or after 1 September 1988 but before 1 May 1993 - the Australian Life Tables 1980-1982;
(c)
for an annuity first commencing to be payable on or after 1 May 1993 but before 1 July 1993 - the Australian Life Tables 1985-1987;
(d)
for an annuity first commencing to be payable on or after 1 July 1993 - the Australian Life Tables that are most recently published before the year in which the annuity first commences to be payable.
History
Reg 9 substituted by SR No 202 of 1993 and amended by SR No 46 of 1993. Reg 9, formerly reg 4AE, renumbered by SR No 192 of 1990.
[Note: The following history notes for the pre-1 July 1990 amendments to this Regulation reflect its former numbering.]
Reg 4AE substituted by SR No 208 of 1988 and substituted for reg 4A by SR No 172 of 1984.
Archived:
Reg 10 and 11 repealed as inoperative by SLI No 216 of 2006, reg 3 and Sch 1 item 1, effective 14 September 2006. For former wording see the CCH Australian Income Tax Legislation archive.
REGULATION 12
EXCLUDED CAR PARKING FACILITIES
12(1)
For the purposes of paragraph
51AGA(1)(e) of the Act, the provision of car parking facilities for a car during a period referred to in section
51AGA of the Act is taken to be excluded from that section if:
(a)
the facilities are provided to an employee who:
(i)
is entitled under the law of a State or Territory to the use of a disabled persons' car parking space; and
(ii)
is the driver of, or is a passenger in, the car; and
(b)
a valid disabled persons' car parking permit is displayed on the car.
12(1A)
(Repealed by SLI No 39 of 2015)
History
Reg 12(1A) repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 16, effective 1 July 2015. Reg 12(1A) formerly read:
12(1A)
For the purposes of paragraph 51AGB(1)(h) of the Act, the provision of car parking facilities for a car during a period referred to in section 51AGB of the Act is taken to be excluded from that section if:
(a)
the facilities are provided to a taxpayer who:
(i)
is entitled under the law of a State or Territory to the use of a disabled persons' car parking space; and
(ii)
is the driver of, or is a passenger in, the car; and
(b)
a valid disabled persons' car parking permit is displayed on the car.
Reg 12(1A) inserted by SR No 95 of 1994.
12(2)
In this regulation:
"disabled persons' car parking space"
means a car parking space:
(a)
in a public car parking area; and
(b)
designated for the exclusive use of disabled persons;
"disabled persons' car parking permit"
means a permit, label or other document:
(a)
issued by the appropriate authority in a State or Territory; and
(b)
authorising the parking of a car in a disabled persons' car parking space.
History
Reg 12 inserted by SR No 159 of 1993. Former reg 12 omitted by SR No 390 of 1990. Reg 12, formerly reg 7, renumbered by SR No 192 of 1990.
REGULATION 12A
12A
MAXIMUM DEDUCTION FOR SUPERANNUATION CONTRIBUTIONS BY ELIGIBLE PERSONS
(Repealed by SLI No 89 of 2007)
History
Reg 12A repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 2, effective 1 July 2007. Reg 12A formerly read:
REGULATION 12A MAXIMUM DEDUCTION FOR SUPERANNUATION CONTRIBUTIONS BY ELIGIBLE PERSONS
12A(1)
For the purposes of subparagraph 82AAT(2)(a)(ii) of the Act, the amount of a taxpayer's maximum deductible contributions to a complying superannuation fund for a year of income is:
(a)
where the taxpayer contributed to only one such fund during the year of income - an amount equal to the maximum deductible contributions that may be accepted by the fund in relation to the taxpayer under subregulation 18B(9) of the Occupational Superannuation Standards Regulations during the year of income; or
(b)
where the taxpayer contributed to more than one such fund during the year of income - the greatest amount ascertained under paragraph (a) separately for each of those funds.
12A(2)
This regulation applies in relation to the year of income that commenced on 1 July 1990 and later years of income.
Reg 12A inserted by SR No 156 of 1991.
REGULATION 13
13
PRESCRIBED STOCK EXCHANGES
(Repealed by SLI No 39 of 2015)
History
Reg 13 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 17, effective 1 July 2015. Reg 13 formerly read:
REGULATION 13 PRESCRIBED STOCK EXCHANGES
13(1)
The following stock exchanges are specified as prescribed stock exchanges for the purposes of Division 3A of Part III of the Act:
Brisbane Stock Exchange
|
Hobart Stock Exchange
|
Stock Exchange of Adelaide
|
Stock Exchange of Melbourne
|
Stock Exchange of Perth
|
Sydney Stock Exchange.
|
13(2)
The stock exchanges specified in subregulation (1) are declared to have been prescribed stock exchanges for the purposes of Division
3A of Part
III of the Act during the period from and including 16 June 1970, to and including the day immediately before the commencement of these Regulations.
Reg 13 formerly reg 7A renumbered by SR No 192 of 1990.
Regulation formally amended by SR No 384 of 1988.
Archived:
Reg 14 repealed as inoperative by SLI No 216 of 2006, reg 3 and Sch 1 item 1, effective 14 September 2006. For former wording see the CCH Australian Income Tax Legislation archive.
REGULATION 14AA
14AA
DEBENTURES ISSUED ON OVERSEAS CAPITAL MARKET (SUBSECTION 128F(8))
(Repealed by SLI No 39 of 2015)
History
Reg 14AA repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 17, effective 1 July 2015. Reg 14AA formerly read:
REGULATION 14AA DEBENTURES ISSUED ON OVERSEAS CAPITAL MARKET (SUBSECTION 128F(8))
14AA
The United States of America is a country specified under paragraph 128F(8)(c) of the Act.
Reg 14AA inserted by SR No 196 of 1997.
PART 3A - RISK COMPONENT: LIFE INSURANCE PREMIUM
History
Pt 3A repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 3, effective 1 July 2007.
Pt 3A, comprising reg 14A-14D, inserted by SR No 347 of 1990.
REGULATION 14A
14A
INTERPRETATION
(Repealed by SLI No 89 of 2007)
History
Reg 14A repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 3, effective 1 July 2007. Reg 14A formerly read:
REGULATION 14A INTERPRETATION
14A
In this Part:
"authorised actuary"
means:
(a)
in relation to a life assurance company - an authorised actuary within the meaning of subsection 110(1) of the Act; and
(b)
in relation to a registered organisation - an authorised actuary within the meaning of subsection 116HAC(1) of the Act;
"future premiums"
has the same meaning as in subsection 110(1) of the Act;
"life assurance policy"
means:
(a)
in relation to a life assurance company - a life assurance policy within the meaning of subsection
110(1) of the Act; and
(b)
in relation to a registered organisation - a life assurance policy within the meaning of subsection
116E(1) of the Act;
"registered organisation"
has the same meaning as in subsection 116E(1) of the Act;
"risk component"
means:
(a)
in relation to a life assurance company - the risk component within the meaning of subsection
110(1) of the Act; and
(b)
in relation to a registered organisation - the risk component within the meaning of subsection
116E(1) of the Act.
Reg 14A substituted by SR No 152 of 1995.
Former reg 14A inserted by SR No 347 of 1990.
REGULATION 14B
14B
RISK COMPONENT: TERM INSURANCE POLICY
(Repealed by SLI No 89 of 2007)
History
Reg 14B repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 3, effective 1 July 2007. Reg 14B formerly read:
REGULATION 14B RISK COMPONENT: TERM INSURANCE POLICY
14B
The risk component of a premium received in respect of:
(a)
a term insurance policy; or
(b)
a rider or supplementary benefit attached to another policy where the sum insured is payable on death within a specified term;
is the whole of the premium.
Reg 14B inserted by SR No 347 of 1990.
REGULATION 14C
14C
RISK COMPONENT: UNBUNDLED LIFE ASSURANCE POLICY
(Repealed by SLI No 89 of 2007)
History
Reg 14C repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 3, effective 1 July 2007. Reg 14C formerly read:
REGULATION 14C RISK COMPONENT: UNBUNDLED LIFE ASSURANCE POLICY
14C(1)
The risk component of a premium received under an unbundled life assurance policy is:
(a)
if expenses are not included in the mortality charge - the mortality charge plus so much of the expenses as the authorised actuary determines relate to the mortality charge; or
(b)
if expenses are included in the mortality charge - the mortality charge.
14C(2)
In this regulation, an unbundled life assurance policy:
(a)
means a policy where the premium consists of an identified mortality charge and identified investment contribution, whether or not expenses are treated separately; and
(b)
does not include a term insurance policy.
Reg 14C inserted by SR No 347 of 1990.
REGULATION 14D
14D
RISK COMPONENT: OTHER LIFE ASSURANCE POLICIES
(Repealed by SLI No 89 of 2007)
History
Reg 14D repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 3, effective 1 July 2007. Reg 14D formerly read:
REGULATION 14D RISK COMPONENT: OTHER LIFE ASSURANCE POLICIES
14D(1)
The risk component of a premium received under a life assurance policy, other than one referred to in regulation 14B or 14C, is the amount worked out in accordance with the following steps:
Step 1: |
Find out the calculated liability for the policy by multiplying the valuation of liability by the adjustment factor according to the rate of compound interest used in the last actuarial valuation of liabilities made in respect of the life assurance company or registered organisation, on the basis of the following table: |
Rate of interest |
Adjustment factor |
4% or more . |
100% |
3.5% to less than 4% . |
95% |
3% to less than 3.5% . |
90% |
less than 3% . |
85% |
Step 2: |
Find out the sum at risk under the policy as follows: |
(a) deduct from the sum payable on death any amount reinsured; and |
(b) deduct the calculated liability from the amount worked out under paragraph (a); |
each of these amounts being worked out as at: |
(c) the end of the year of income; or |
(d) immediately before the policy ceased, if the policy ceased in the year of income. |
Step 3: |
If a premium received relates to a period of less than a year, adjust the sum at risk (Step 2) by multiplying it by the fraction of the year to which the premium relates. |
Step 4: |
Work out the mortality factor on the basis of the formula: |
1.2
q
+ .0006; |
where
q
is the ultimate mortality rate in IA1964-70, worked out by reference to the age or ages of the life or lives insured. |
Step 5: |
Multiply the sum at risk (Step 2) or the adjusted sum at risk (Step 3), as the case requires, by the mortality factor. |
Step 6: |
Add the total worked out under Step 5 to that part of the premium, if any, paid to reinsure the mortality risk under the policy. |
History
Reg 14D(1) amended by SR No 152 of 1995.
14D(2)
If premiums are not contracted to be payable in each year of the policy, the risk component includes an amount determined by the authorised actuary for the period for which the policy can reasonably be expected to remain in force after premiums have ceased.
14D(3)
In making a determination under subregulation (2), the authorised actuary must have regard to the bases set out in subregulation (1).
14D(4)
In this Regulation:
"IA1964-70"
means the Australian Insured Lives Mortality Table 1964-1970, published by the Institute of Actuaries of Australia and New Zealand;
"valuation of liability"
means the amount that would be enough to pay in full at maturity, according to the rates of mortality assumed in the company's last actuarial valuation, all liability (other than any liability reinsured) under the policy in force on the date for which the valuation is made, if:
(a)
the amount were accumulated at the rate of interest assumed in that last actuarial valuation; and
(b)
the future premiums (other than any reinsurance premiums), were accumulated at that rate.
Reg 14D inserted by SR No 347 of 1990.
Archived:
Pt 3B repealed as inoperative by SLI No 216 of 2006, reg 3 and Sch 1 item 2, effective 14 September 2006. For former wording see the CCH Australian Income Tax Legislation archive.
PART 4 - RETURNS AND ASSESSMENTS
History
Pt 4, formerly Pt IV, renumbered by SR No 192 of 1990.
REGULATION 15
15
RETURNS
(Repealed by SR No 289 of 2001)
History
Reg 15 (formerly reg 9) renumbered by SR No 192 of 1990.
REGULATION 16
16
RETURNS BY PERSONS OTHER THAN COMPANIES
(Repealed by SR No 289 of 2001)
History
Reg 16 (formerly reg 10) renumbered by SR No 192 of 1990, amended by SR No 152 of 1990.
REGULATION 17
17
RETURNS BY COMPANIES
(Repealed by SR No 289 of 2001)
History
Reg 17 (formerly reg 11) amended by SR No 462 of 1994, SR No 390 of 1990, renumbered by SR No 192 of 1990, amended by SR No 152 of 1990, SR No 151 of 1990, Act No 97 of 1988.
REGULATION 18
18
SIMPLIFIED RETURN FORMS
(Repealed by SR No 289 of 2001)
History
Reg 18 (formerly reg 11A) renumbered by SR No 192 of 1990 and amended by SR No 152 of 1990.
REGULATION 19
19
STATEMENT TO BE FURNISHED BY EMPLOYERS
(Repealed by SLI No 39 of 2015)
History
Reg 19 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 17, effective 1 July 2015. Reg 19 formerly read:
REGULATION 19 STATEMENT TO BE FURNISHED BY EMPLOYERS
19(1)
Every employer of labour shall, when called upon by the Commissioner either by general notice published in the Gazette or by direct notice to the employer, give to the Commissioner, at an address mentioned in subregulation (3), a statement showing:
(a)
the names and addresses of all persons employed by him during the period mentioned in the notice;
(b)
the capacity in which each person was employed;
(c)
the total amount of remuneration paid to each person during that period; and
(d)
the value of board, residence, or other allowance made to each person during that period.
Penalty: 5 penalty units.
History
Reg 19(1) amended by SR No 302 of 2002.
19(2)
The employer shall include in the statement, in relation to each employee who has, for the purposes of Part VA of the Act, quoted his or her tax file number in a TFN declaration given to the employer:
(a)
the employee's tax file number; or
(b)
where the employee is, because of the application of subsection 202CB(2) or (4) of the Act, to be taken to have so quoted the number - a notice to that effect.
Penalty: 5 penalty units.
History
Reg 19(2) amended by SR No 302 of 2002 and SR No 72 of 2000.
19(3)
For subregulation (1), the addresses are:
(a)
a place directed by the Commissioner; or
(b)
if the Commissioner does not give a direction, a place where, under these Regulations, the return of the employer may be furnished.
History
Reg 19(3) amended by SR No 302 of 2002 and substituted by SR No 462 of 1994.
19(4)
An offence under subregulation (1) or (2) is an offence of strict liability.
Note:
For
strict liability
, see section 6.1 of the Criminal Code.
History
Reg 19(4) inserted by SR No 302 of 2002.
Reg 19, formerly reg 12, and subreg (2) and (3), formerly subreg (1A) and (2), renumbered by SR No 192 of 1990.
Reg 19(2) (formerly reg 12(1A)) inserted by Act No 97 of 1988.
REGULATION 20
20
AMENDMENT OF ASSESSMENTS FOR AN INCOME YEAR
For a provision of subsection
170(1) of the Act mentioned in an item of the table, the circumstances set out in the item are prescribed.
Note:
If a circumstance in an item of the table exists, the Commissioner of Taxation may amend an assessment of the taxpayer within 4 years after the day on which the Commissioner gives notice of the assessment to the taxpayer, unless a longer amendment period applies to the taxpayer.
Item
|
Provision
|
Circumstance
|
1 |
Paragraph (f) of item 1 of the table in subsection 170(1)
Paragraph (e) of item 2 of the table in subsection 170(1)
Paragraph (d) of item 3 of the table in subsection 170(1) |
All of the following exist: |
(a) |
there has been a transaction involving associates (within the meaning of section 318 of the Act), that has income tax consequences, in the year of income mentioned in the item; |
(b) |
the parties were not dealing with each other at arm's length in relation to the transaction; |
(c) |
the period during which the Commissioner may amend an assessment in relation to one of the parties is at least 4 years. |
2 |
Paragraph (f) of item 1 of the table in subsection 170(1)
Paragraph (e) of item 2 of the table in subsection 170(1)
Paragraph (d) of item 3 of the table in subsection 170(1) |
All of the following exist: |
(a) |
a private company is taken to have paid a dividend to an entity, as described in section 109C, 109D, 109E or 109F of the Act, in the year of income mentioned in the item; |
(b) |
the entity is: |
(i) |
a shareholder of the company; or |
(ii) |
an associate of a shareholder of the company; or |
(iii) |
a former shareholder of the company; or |
(iv) |
an associate of a former shareholder of the company; |
(c) |
the period during which the Commissioner may amend an assessment in relation to the company is at least 4 years. |
3 |
Paragraph (f) of item 1 of the table in subsection 170(1)
Paragraph (d) of item 3 of the table in subsection 170(1) |
All of the following exist: |
(a) |
the effect of section 109XB of the Act is that an amount is included as a dividend in the assessable income of a taxpayer as described in subsection 109XA(1), (2) or (3) of the Act in the year of income mentioned in the item; |
(b) |
the matter involves a taxpayer who is: |
(i) |
a shareholder of a company; or |
(ii) |
an associate of a shareholder of a company; |
(c) |
the period during which the Commissioner may amend an assessment in relation to both the trust and the company is at least 4 years. |
4 |
Paragraph (f) of item 1 of the table in subsection 170(1)
Paragraph (e) of item 2 of the table in subsection 170(1)
Paragraph (d) of item 3 of the table in subsection 170(1) |
All of the following exist in the year of income mentioned in the item: |
(a) |
a taxpayer has acquired an ESS interest; |
(b) |
subsection 83A-35(5) of the Income Tax Assessment Act 1997 (integrity rule about share trading and investment companies) did not apply to the ESS interest; |
(c) |
the entity that provided the ESS interest to the taxpayer is not a small business entity in relation to which item 2 or 3 of the table in subsection 170(1) of the Act applies. |
5 |
Paragraph (f) of item 1 of the table in subsection 170(1)
Paragraph (e) of item 2 of the table in subsection 170(1)
Paragraph (d) of item 3 of the table in subsection 170(1) |
Both of the following exist in the year of income mentioned in the item: |
(a) |
the taxpayer has not identified income (ordinary or statutory) from one or more foreign transactions for the purposes of, or in the course of, an assessment; |
(b) |
the income has not been received from a resident investment vehicle within the meaning of the Income Tax Assessment Act 1997. |
6 |
Paragraph (f) of item 1 of the table in subsection 170(1)
Paragraph (e) of item 2 of the table in subsection 170(1)
Paragraph (d) of item 3 of the table in subsection 170(1) |
Both of the following exist in the year of income mentioned in the item: |
(a) |
subsection 345(5) of the Act (transfer under a scheme) may be applicable to the taxpayer; |
(b) |
not all of the relevant information regarding the application of that subsection can be obtained from a resident investment vehicle within the meaning of the Income Tax Assessment Act 1997. |
7 |
Paragraph (f) of item 1 of the table in subsection 170(1)
Paragraph (e) of item 2 of the table in subsection 170(1)
Paragraph (d) of item 3 of the table in subsection170(1) |
Both of the following exist in the year of income mentioned in the item: |
(a) |
paragraph 448(1A)(f) of the Act (provision of services under a scheme) may be applicable to the taxpayer; |
(b) |
not all of the relevant information regarding the application of that paragraph can be obtained from a resident investment vehicle within the meaning of the Income Tax Assessment Act 1997. |
8 |
Paragraph (f) of item 1 of the table in subsection 170(1)
Paragraph (e) of item 2 of the table in subsection 170(1)
Paragraph (d) of item 3 of the table in subsection 170(1) |
Any of the following provisions applies in relation to the taxpayer in the year of income mentioned in the item: |
(a) |
section 45A of the Act (streaming of dividends and capital benefits); |
(b) |
section 45B of the Act (schemes to provide certain benefits); |
(c) |
subsection 102AE(7) of the Act (excluded income for minors); |
(d) |
section 177E of the Act (stripping of company profits); |
(e) |
section 177EA of the Act (franking debit creation and franking credit cancellation schemes); |
(f) |
Division 270 of Schedule 2F to the Act (scheme to take advantage of deductions); |
(g) |
subsection 26-50(7) of the Income Tax Assessment Act 1997 (expenses for a leisure facility or boat); |
(h) |
any of sections 165-180 to 165-205 (rules affecting the operation of tests for changing ownership of a company), and Division 175 (use of a company's tax losses or deductions to avoid income tax), of the Income Tax Assessment Act 1997; |
(i) |
Subdivision 207-F of the Income Tax Assessment Act 1997 (cancellation of gross-up or tax offset where the imputation system has been manipulated). |
9 |
Paragraph (f) of item 1 of the table in subsection 170(1) |
The making of an election under paragraph 96-7(1)(a) or (b) in Schedule 1 to the Taxation Administration Act 1953 in relation to an excess non-concessional contributions determination for a financial year that corresponds to the year of income mentioned in the item. |
History
Reg 20 amended by SLI No 79 of 2015, reg 4 and Sch 1 item 1, by inserting table item 9, effective 2 June 2015.
Reg 20 amended by SLI No 7 of 2010, reg 3 and Sch 1 item 2, by substituting table item 4, effective 1 July 2009. Table item 4 formerly read:
Item
|
Provision
|
Circumstance
|
4 |
Paragraph (f) of item 1 of the table in subsection 170(1)
Paragraph (e) of item 2 of the table in subsection 170(1)
Paragraph (d) of item 3 of the table in subsection 170(1) |
All of the following exist in the year of income mentioned in the item: |
(a) |
there has been a transaction involving: |
(i) |
a company; and |
(ii) |
a shareholder or option holder of the company; |
(b) |
for the purposes of section 139DF of the Act (certain shares and rights not qualifying), the predominant business of the company (whether or not stated in its constituent documents) is the acquisition, sale or holding of shares, securities or other investments (whether directly or indirectly through one or more companies, partnerships or trusts); |
(c) | section 139DF of the Act affects the tax status of employee shares, or rights to acquire employee shares, in the hands of the employee; |
(d) |
the company is not a small business entity in relation to which item 2 or 3 of subsection 170(1) of the Act applies. |
Reg 20 amended by SLI No 176 of 2007, reg 3 and Sch 1 item 1, by substituting "a small business entity" for "an STS taxpayer" in para (d) of table item 4, effective 27 June 2007 and applicable to assessments for the 2007-2008 income year and later income years.
Reg 20 inserted by SLI No 166 of 2006, reg 3 and Sch 1 item 1, effective 26 June 2006.
Reg 20 (formerly reg 13) omitted by SR No 289 of 2001 and renumbered by SR No 192 of 1990.
Reg 20(1) (formerly reg 13(1)) amended by SR No 416 of 1984.
REGULATION 21
21
SEPARATE RETURNS BY PARTNERS
(Repealed by SR No 289 of 2001)
History
Reg 21 (formerly reg 14) renumbered by SR No 192 of 1990.
REGULATION 22
22
RETURNS BY TRUSTEES
(Repealed by SR No 289 of 2001)
History
Reg 22 (formerly reg 15) renumbered by SR No 192 of 1990.
REGULATION 23
23
RETURNS BY AGENTS
(Repealed by SR No 289 of 2001)
History
Reg 23 (formerly reg 16) renumbered by SR No 192 of 1990.
REGULATION 24
24
NOT SOLE AGENT
(Repealed by SR No 289 of 2001)
History
Reg 24 (formerly reg 17) renumbered by SR No 192 of 1990.
REGULATION 25
25
SPECIAL RETURNS
(Repealed by SR No 289 of 2001)
History
Reg 25 (formerly reg 18) renumbered by SR No 192 of 1990.
REGULATION 26
26
SUBSTANTIALLY SIMILAR FORM
(Repealed by SR No 289 of 2001)
History
Reg 26 (formerly reg 19) renumbered by SR No 192 of 1990.
REGULATION 27
27
IDENTIFICATION OF STATEMENTS ACCOMPANYING RETURNS
(Repealed by SR No 289 of 2001)
History
Reg 27 (formerly reg 20) renumbered by SR No 192 of 1990.
REGULATION 28
28
WHERE TO LODGE RETURNS
(Repealed by SR No 289 of 2001)
History
Reg 28 substituted by SR No 169 of 1997 and SR No 462 of 1994, renumbered by SR No 192 of 1990, formally amended by SR No 384 of 1988 and amended by SR No 79 of 1983.
REGULATION 29
29
FURNISHING OF RETURNS BY PARTNERSHIPS AND TRUSTEES
(Omitted by SR No 462 of 1994)
History
Reg 29, formerly reg 22A, renumbered by SR No 192 of 1990 and formally amended by SR No 384 of 1988.
REGULATION 30
30
FURNISHING OF RETURNS BY NON-RESIDENTS
(Omitted by SR No 462 of 1994)
History
Reg 30, formerly reg 22B, and subreg (2), (3) and (4), formerly subreg (3), (4) and (5), renumbered by SR No 192 of 1990.
Regulation formally amended by SR No 384 of 1988.
REGULATION 31
31
FURNISHING OF RETURNS AS DIRECTED BY COMMISSIONER
(Omitted by SR No 462 of 1994)
History
Reg 31, formerly reg 22C, renumbered by SR No 192 of 1990.
REGULATION 32
32
SOURCE OF MORTGAGE INTEREST
(Repealed by SR No 289 of 2001)
History
Reg 32 (formerly reg 23) renumbered by SR No 192 of 1990.
REGULATION 33
33
TERRITORIES
(Repealed by SR No 289 of 2001)
History
Reg 33 (formerly reg 24) renumbered, and para (a), (b) and (c) re-lettered, by SR No 192 of 1990, and amended by SR No 384 of 1988.
REGULATION 34
34
WHEN TAXPAYER TAKEN TO HAVE FURNISHED RETURN
(Repealed by SR No 289 of 2001)
History
Reg 34 amended by SR No 176 of 1997, substituted by SR No 462 of 1994 and renumbered by SR No 192 of 1990.
FORMER REGULATION 35
35
PERSONS MUST ENSURE RETURN IS RECEIVED
(Repealed by SR No 289 of 2001)
History
Former reg 35 substituted by SR No 462 of 1994 and renumbered by SR No 192 of 1990.
FORMER REGULATION 36
36
NOTICE OF ADDRESS
(Repealed by SR No 289 of 2001)
History
Former reg 36 (formerly reg 27) renumbered by SR No 192 of 1990.
FORMER REGULATION 37
37
NOTICE OF CHANGE OF ADDRESS
(Repealed by SR No 289 of 2001)
History
Former reg 37 (formerly reg 28) renumbered by SR No 192 of 1990.
FORMER REGULATION 38
38
ADDRESS FOR SERVICE
(Repealed by SR No 289 of 2001)
History
Former reg 38 (formerly reg 29) renumbered by SR No 192 of 1990.
Reg 38(2) inserted by SR No 176 of 1997.
FORMER REGULATION 39
39
LAST KNOWN PLACE OF BUSINESS OR ABODE
(Repealed by SR No 289 of 2001)
History
Former reg 39 (formerly reg 30) renumbered by SR No 192 of 1990 and formally amended by SR No 384 of 1988.
Reg 39(2) inserted by SR No 176 of 1997.
FORMER REGULATION 40
40
FAILURE TO NOTIFY CHANGE OF ADDRESS
(Repealed by SR No 289 of 2001)
History
Former reg 40 (formerly reg 31) renumbered by SR No 192 of 1990.
Reg 40(2) inserted by SR No 176 of 1997.
REGULATION 41
41
ANNOTATIONS ON RETURNS
(Repealed by SR No 289 of 2001)
History
Reg 41 (formerly reg 32) renumbered by SR No 192 of 1990.
REGULATION 42
42
ELIGIBLE TERMINATION PAYMENTS - ROLL-OVER
(Omitted by SR No 14 of 1998)
PART 4A - PREFERRED ADDRESS FOR SERVICE AND SERVICE OF DOCUMENTS
History
Pt 4A repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 18, effective 1 July 2015.
Pt 4A inserted by SR No 289 of 2001.
REGULATION 35
35
REFERENCES TO ACT INCLUDE REFERENCES TO 1997 ACT
(Repealed by SLI No 39 of 2015)
History
Reg 35 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 18, effective 1 July 2015. Reg 35 formerly read:
REGULATION 35 REFERENCES TO ACT INCLUDE REFERENCES TO 1997 ACT
35
In this Part, unless the contrary intention appears:
(a)
a reference to
the Act
includes a reference to the Income Tax Assessment Act 1997; and
(b)
a reference to
these Regulations
includes a reference to Regulations made under the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997.
Reg 35 inserted by SR No 289 of 2001.
REGULATION 36
36
PREFERRED ADDRESS FOR SERVICE
(Repealed by SLI No 39 of 2015)
History
Reg 36 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 18, effective 1 July 2015. Reg 36 formerly read:
REGULATION 36 PREFERRED ADDRESS FOR SERVICE
36(1)
An address in Australia used by or associated with a person is a
preferred address for service
of the person if:
(a)
it is of one of the following kinds of address:
(i)
a physical address;
(ii)
a postal address;
(iii)
an electronic address; and
Note 1:
An address may be both a physical address and a postal address (eg. a street address).
Note 2:
The following are examples of an electronic address:
(a) an e-mail address;
(b) a secure website that the person can access to obtain a document.
(b)
the person has given it to the Commissioner as an address for the service of documents by the Commissioner under the Act or these Regulations; and
(c)
the designation of the address or other circumstances indicate that the person wishes the address to be used by the Commissioner in preference to other addresses of the person, whether generally or in specific circumstances.
36(2)
The designation of an address in a form or correspondence as an 'address for service', a 'preferred address', an 'address for correspondence' or similar term satisfies paragraph (1)(c).
Reg 36 inserted by SR No 289 of 2001.
REGULATION 37
37
CHANGE OR WITHDRAWAL OF PREFERRED ADDRESS FOR SERVICE
(Repealed by SLI No 39 of 2015)
History
Reg 37 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 18, effective 1 July 2015. Reg 37 formerly read:
REGULATION 37 CHANGE OR WITHDRAWAL OF PREFERRED ADDRESS FOR SERVICE
37(1)
A person may change or withdraw a preferred address for service only by giving the Commissioner notice in accordance with this regulation.
37(2)
The notice must state whether or not the former address is still effective.
37(3)
The notice must be given to the Commissioner in one of the following ways:
(a)
orally, including by telephone;
(b)
in writing, including electronically;
(c)
any other way approved by the Commissioner in writing.
37(4)
If the person is required to maintain a preferred address for service under the Act or these Regulations, the person may withdraw a preferred address for service only if another effective preferred address for service that is a postal address remains.
37(5)
If the person is required to maintain a preferred address for service under the Act or these Regulations, and a preferred address for service becomes ineffective, the person must change or withdraw the ineffective address within 28 days.
Reg 37 inserted by SR No 289 of 2001.
REGULATION 37A
37A
REQUIREMENT TO MAINTAIN A PREFERRED ADDRESS FOR SERVICE
(Repealed by SLI No 39 of 2015)
History
Reg 37A repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 18, effective 1 July 2015. Reg 37A formerly read:
REGULATION 37A REQUIREMENT TO MAINTAIN A PREFERRED ADDRESS FOR SERVICE
37A
If a person is required to give the Commissioner a preferred address for service for a purpose (for example, by the approved form for a return), the person must subsequently maintain a preferred address for service for the purpose.
Reg 37A inserted by SR No 289 of 2001.
REGULATION 38
38
SUBSTITUTE PREFERRED ADDRESS FOR SERVICE
(Repealed by SLI No 39 of 2015)
History
Reg 38 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 18, effective 1 July 2015. Reg 38 formerly read:
REGULATION 38 SUBSTITUTE PREFERRED ADDRESS FOR SERVICE
38(1)
This regulation applies if:
(a)
a person has not given the Commissioner a preferred address for service; or
(b)
the Commissioner is satisfied that none of a person's preferred addresses for service is effective.
38(2)
If the Commissioner has a record of another address relating to the person (whether or not a physical address), and it appears to the Commissioner that it is likely that the address is effective, the Commissioner may treat that address as the person's preferred address for service for all purposes under the Act and these Regulations.
Reg 38 inserted by SR No 289 of 2001.
REGULATION 39
39
FAILURE TO NOTIFY CHANGE OF ADDRESS
(Repealed by SLI No 39 of 2015)
History
Reg 39 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 18, effective 1 July 2015. Reg 39 formerly read:
REGULATION 39 FAILURE TO NOTIFY CHANGE OF ADDRESS
39
A person whose preferred address for service is no longer effective, and who has not changed or withdrawn the address under regulation 37, may not plead the fact that the address was not effective as a defence in any proceedings instituted against the person under the Act or these Regulations.
Reg 39 inserted by SR No 289 of 2001.
REGULATION 40
40
SERVICE OF DOCUMENTS
(Repealed by SLI No 39 of 2015)
History
Reg 40 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 18, effective 1 July 2015. Reg 40 formerly read:
REGULATION 40 SERVICE OF DOCUMENTS
40(1)
The Commissioner may serve a document on a person for the purposes of the Act and these Regulations by:
(a)
if the person has given a preferred address for service that is a physical address - leaving a copy of the document at that address; or
(b)
if the person has given a preferred address for service that is a postal address - posting a copy of the document to that address; or
(c)
if the person has given a preferred address for service that is an electronic address - delivering an electronic copy of the document to that address.
40(2)
This regulation also applies to the service of a notice:
(a)
for the purposes of section 451 of the Act - by an attributable taxpayer upon a company that is a CFC within the meaning of Part X; and
(b)
for the purposes of section 452 of the Act - by a company that is a CFC within the meaning of that Part upon a partnership;
in the same way as it applies to the Commissioner serving a document on a person.
40(3)
This regulation does not affect the operation of any other law of the Commonwealth, or any law of a State or Territory, that deals with the service of documents.
Note
For an example of another law that deals with the service of documents, see sections 28A and 29 of the Acts Interpretation Act 1901.
Reg 40 inserted by SR No 289 of 2001.
Archived:
Pt 5 repealed as inoperative by SLI No 216 of 2006, reg 3 and Sch 1 item 3, effective 14 September 2006. For former wording see the CCH Australian Income Tax Legislation archive.
PART 5A - REASONABLE BENEFIT LIMITS
History
Pt 5A repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007.
Pt 5A inserted by SR No 461 of 1994.
Division 1 - Preliminary
History
Div 1 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007.
REGULATION 46
46
INTRODUCTORY
(Repealed by SLI No 89 of 2007)
History
Reg 46 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 46 formerly read:
REGULATION 46 INTRODUCTORY
46
Divisions 2 and 3 of this Part are made, under section 140ZE of the Act, for transitional purposes only.
Reg 46 inserted by SR No 461 of 1994.
REGULATION 47
47
INTERPRETATION
(Repealed by SLI No 89 of 2007)
History
Reg 47 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 47 formerly read:
REGULATION 47 INTERPRETATION
47(1)
In this Part, unless the contrary intention appears:
"HAS"
, in relation to a person, subject to regulation 49, means the highest average annual salary of the person over any 3 consecutive financial years (including a financial year in which the person did not earn salary for the whole of the year) before the 1994-1995 financial year;
"HAS-based lump sum RBL"
, in relation to a person, means the amount worked out by multiplying the amount of the person's HAS by the amount of the person's lump sum reasonable benefit multiple;
"HAS-based pension RBL"
, in relation to a person, means the amount worked out by multiplying the amount of the person's HAS by the amount of the person's pension reasonable benefit multiple;
"lump sum reasonable benefit multiple"
, in relation to a person who is applying for a transitional RBL, subject to subregulation (2), means:
(a)
if the eligible service period in relation to the ETP, pension or annuity commenced on or after 1 July 1990 - the number obtained by dividing the sum of:
(i)
7 times $46,640 or, if the person's HAS is less than $46,640, 7 times the person's HAS; and
(ii)
5 times the part (if any) of the person's HAS that exceeds $46,640 but does not exceed $86,610; and
(iii)
3 times the part (if any) of the person's HAS that exceeds $86,610;
by the person's HAS; or
(b)
in any other case - the number worked out using the formula:
(OLD SP × OLD RBM) + (NEW SP × NEW RBM)
|
where:
"
OLD SP
" means the number worked out by dividing the number of days in the relevant eligible service period that occurred before 1 July 1990 by the total number of days in the relevant eligible service period; and
"
OLD RBM
" means the multiple applicable to the benefit under Schedule 2A; and
"
NEW SP
" means the number worked out by dividing the number of days in the relevant eligible service period that occurred on or after 1 July 1990 by the total number of days in the relevant eligible service period; and
"
NEW RBM
" means the number that would be the person's lump sum reasonable benefit multiple if the relevant eligible service period had commenced on or after 1 July 1990;
"net business income"
, in relation to a business the gross income of which in respect of a financial year exceeds all deductions for that year with respect to the business that are allowable deductions for the purposes of the Act (other than any deductions allowable under section 82AAC or 82AAT, or Division 16C of Part III, of the Act), means the amount of that excess;
"net business losses"
, in relation to a business where all deductions for the financial year commencing on 1 July 1990 or a later financial year with respect to the business that are allowable deductions for the purposes of the Act (other than any deductions allowable under section 82AAC or 82AAT, or Division 16C of Part III, of the Act) exceed the gross income of the business in respect of that year, means the amount of that excess;
"pension reasonable benefit multiple"
, in relation to a person who is applying for a transitional RBL, subject to subregulation (2), means:
(a)
if the eligible service period in relation to the benefit commenced on or after 1 July 1990 - the number worked out using the formula:
where:
"
M
" means the sum of:
(i)
0.75 times $46,640 or, if the person's HAS is less than $46,640, 0.75 times the person's HAS; and
(ii)
0.55 times the part (if any) of the person's HAS that exceeds $46,640 but does not exceed $86,610; and
(iii)
0.35 times the part (if any) of the person's HAS that exceeds $86,610; or
(b)
in any other case - the number worked out using the formula:
(OLD SP × OLD RBM) + (NEW SP × NEW RBM)
|
where:
"
OLD SP
" means the number worked out by dividing the number of days in the relevant eligible service period that occurred before 1 July 1990 by the total number of days in the relevant eligible service period; and
"
OLD RBM
" means the multiple applicable to the benefit under Schedule 2A; and
"
NEW SP
" means the number worked out by dividing the number of days in the relevant eligible service period that occurred on or after 1 July 1990 by the total number of days in the relevant eligible service period; and
"
NEW RBM
" means the number that would be the person's pension reasonable benefit multiple if the relevant eligible service period commenced on or after 1 July 1990;
"
salary
", subject to subregulations (3) and (4), means salary, wages, commissions, bonuses, fees, allowances or gratuities paid to a person during a financial year, and includes:
(a)
subject to paragraph (k), other earnings; and
(b)
the amount that would be the value of a benefit to which section
57,
57A or
58 of the
Fringe Benefits Tax Assessment Act 1986 applies if that benefit were not an exempt benefit; and
(c)
a payment made by a company by way of remuneration to a director of the company; and
(d)
in the case of a person who is an Australian citizen, or a resident of Australia - any amounts paid to the person from a source outside Australia that would fall within this definition if they had been paid from a source in Australia;
but does not include:
(e)
a distribution from a trust estate; or
(f)
allowances to cover expenses incurred on behalf of the person's employer or business; or
(g)
any ETP; or
(h)
a superannuation pension or an annuity; or
(j)
a payment to which section
26AC or
26AD of the Act applies; or
(k)
earnings on investments;
"vested superannuation benefits"
has the meaning given by subregulation (5).
47(2)
For the purposes of the definitions of "lump sum reasonable benefit multiple" and "pension reasonable benefit multiple", if a person has more than 1 benefit entitlement, the person's relevant eligible service period for transitional RBL purposes is taken to have started on the earliest date of the longest eligible service period in relation to the person's benefit entitlements.
47(3)
For the purposes of the definition of "salary" in subregulation (1):
(a)
amounts to which paragraph (d) of that definition applies are to be converted into Australian currency at the rate that is the average of the exchange rates for the currency in which the foreign source amounts were paid at the start, and at the end, of the financial year in which the amounts were paid; and
(b)
if a person carries on a business (either alone or in partnership with another person):
(i)
the person's salary is to be increased by the person's share of the net business income; or
(ii)
the person's salary is to be decreased by the person's share of the net business losses; and
(c)
if:
(i)
a person is an associate of the person's employer; and
(ii)
the person's salary is greater or lesser than the amount (in this paragraph called the
"arm's length salary"
) that would, in the opinion of the Commissioner, acting in accordance with subregulation (4), be the person's salary if the person had not been an associate of the employer;
the person's salary for the purposes of this Part is taken to be the arm's length salary.
47(4)
In determining the arm's length salary under subregulation (3), the Commissioner is to have regard to:
(a)
the nature of the work performed; and
(b)
the hours worked; and
(c)
the salary that would be payable to a person who is not an associate of the employer for performing similar work for similar hours; and
(d)
any other relevant matters.
47(5)
Subject to subregulation (6), the amount of vested superannuation benefits in relation to a person is the sum of:
Lump sum benefit in a superannuation fund or an ADF
(a)
if the person has a benefit entitlement, in the form of a lump sum, in a superannuation fund or an ADF - the greatest of the following amounts:
(i)
the RBL amount (worked out under section 140ZH of the Act) of the person's accumulated benefit on 30 June 1994;
(ii)
the RBL amount (worked out under that section) of the benefit payable to the person if he or she resigned on 30 June 1994;
(iii)
the RBL amount (worked out under that section) of the benefit payable to the person if he or she became redundant on that date;
Deferred annuity held by a life assurance company or registered organisation
(b)
if the person has a benefit entitlement, in the form of a deferred annuity, in a life assurance company or a registered organisation - the RBL amount (calculated under section
140ZI of the Act) of the benefit payable to the person if he or she commuted the entitlement on 30 June 1994;
Lump sum benefit payable under a contract of employment
(c)
if the person has a benefit entitlement, in the form of a lump sum, payable under a contract of employment - the greater of the following amounts:
(i)
the RBL amount (worked out under section 140ZJ of the Act) of the benefit payable to the person under the contract if he or she resigned on 30 June 1994;
(ii)
the RBL amount (worked out under that section) of the benefit payable to the person under the contract if he or she became redundant on that date;
Pension benefit in a superannuation fund
(d)
if the person has a benefit entitlement, in the form of a pension that has not become payable, in a superannuation fund - the greatest of the following amounts:
(i)
the RBL amount (worked out under section 140ZK of the Act) of the amount of the person's accumulated benefit on 30 June 1994;
(ii)
the RBL amount (worked out under that section) of the capital value of the benefit payable to the person if he or she resigned on 30 June 1994;
(iii)
the RBL amount (worked out under that section) of the capital value of the benefit payable to the person if he or she became redundant on that date.
47(6)
For the purposes of subregulation (5), there must be added to an amount worked out in accordance with that subregulation in relation to a person the sum of adjusted RBL amounts of previous benefits in relation to the person, where that sum is worked out:
(a)
in accordance with subsection 140ZA(4) of the Act; and
(b)
on the basis that, in using the formula in the subsection to work out the portion, the "second-last quarter" in the formula is the quarter ending on 30 June 1994; and
(c)
on the basis that subsection 140ZA(5) of the Act does not apply.
47(7)
Unless the contrary intention appears, a term defined in section
140C of the Act and not defined in this regulation has the same meaning in this Part as it has, under that section, in Division 14 of Part
III of the Act.
Reg 47 inserted by SR No 461 of 1994.
REGULATION 48
48
RULES FOR WORKING OUT ETPS FOR TRANSITIONAL RBL PURPOSES
(Repealed by SLI No 89 of 2007)
Hide history note
History
Reg 48 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 48 formerly read:
REGULATION 48 RULES FOR WORKING OUT ETPS FOR TRANSITIONAL RBL PURPOSES
48
Where a person has a benefit entitlement that is to be taken into account for transitional RBL purposes, the following rules apply in working out the person's transitional RBL:
(a)
if the benefit is in a superannuation fund or an ADF in the form of a lump sum - the payment of the lump sum to which the person would be entitled if he or she ceased on 30 June 1994 to be a member of the superannuation fund or ADF is taken to be the retained amount of an ETP;
(b)
if the benefit is in a superannuation fund in the form of a pension - the entitlement to the pension that would accrue to the person if he or she ceased on 30 June 1994 to be a member of the fund is taken to commence on 1 July 1994;
(c)
if the benefit is a deferred annuity in a life assurance company or a registered organisation - the lump sum to which the person would be entitled if he or she commuted the annuity entitlement on 30 June 1994 is taken to be the retained amount of an ETP;
(d)
if the benefit is a lump sum payable under a contract of employment - the lump sum to which the person would be entitled if the employment terminated on 30 June 1994 is taken to be the retained amount of an ETP that is paid after 30 June 1994.
Reg 48 inserted by SR No 461 of 1994.
REGULATION 49
49
SPECIAL RULES RELATING TO HAS
(Repealed by SLI No 89 of 2007)
History
Reg 49 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 49 formerly read:
REGULATION 49 SPECIAL RULES RELATING TO HAS
49(1)
For the purposes of the definition of ``HAS'' in subregulation 47(1), where a person has earned salary but not during 3 consecutive financial years, that definition applies to:
(a)
if the person has earned salary for at least 2 full consecutive financial years - the person's average salary for those 2 years; or
(b)
if the person has earned salary for at least one full financial year but less than 2 full consecutive financial years - the person's salary for that financial year; or
(c)
in any other case - the person's final annualised salary.
49(2)
Subject to this regulation, if the period of a person's HAS does not include the financial year 1993-1994:
(a)
the HAS is multiplied by the index number for the quarter ending on 30 June 1994; and
(b)
the product of that multiplication is divided by the index number for the last quarter in the period of the person's HAS.
49(3)
Subregulation (2) does not apply to a person in relation to a benefit if that subregulation would result in a reduction of the person's HAS.
49(4)
Where an amount worked out under subregulation (2) is not a multiple of $10, it is to be increased to the nearest multiple of $10.
Reg 49 inserted by SR No 461 of 1994.
Division 2 - Specific RBLs
History
Div 2 repealed by SLI No 89 of 2007, reg 3 and Sch 1item 4, effective 1 July 2007.
REGULATION 50
50
INTRODUCTORY
(Repealed by SLI No 89 of 2007)
History
Reg 50 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 50 formerly read:
REGULATION 50 INTRODUCTORY
50
This Division applies subject to Division 1.
NOTE: In particular, provisions in this Division concerning the amount of a person's transitional RBL must be read subject to any applicable provision of regulations 47 to 49.
Reg 50 inserted by SR No 461 of 1994.
REGULATION 51
51
COMMISSIONER MAY DETERMINE RBLs AT HIGHER AMOUNT
(Repealed by SLI No 89 of 2007)
History
Reg 51 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 51 formerly read:
REGULATION 51 COMMISSIONER MAY DETERMINE RBLs AT HIGHER AMOUNT
51(1)
The Commissioner may determine that, because of special circumstances, a person's transitional lump sum RBL, or transitional pension RBL, is to be an amount that is higher than it would be under another provision of this Part.
51(2)
In making a determination under subregulation (1), the Commissioner must have regard:
(a)
to the special circumstances of the person; and
(b)
to any other relevant matter that comes to the notice of the Commissioner.
History
Reg 51(1) inserted by SR No 461 of 1994.
Reg 51 substituted by SR No 80 of 1999.
REGULATION 52
52
RBLs - PERSONS AGED UNDER 45 ON 1 JULY 1994
(Repealed by SLI No 89 of 2007)
History
Reg 52 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 52 formerly read:
REGULATION 52 RBLs - PERSONS AGED UNDER 45 ON 1 JULY 1994
52(1)
In this regulation,
``eligible person''
means a person born after 1 July 1949.
52(2)
An eligible person has a transitional lump sum RBL if:
(a)
the amount of the person's vested superannuation benefits as at 30 June 1994 exceeds $400,000; and
(b)
the amount of the person's HAS-based lump sum RBL exceeds $400,000.
52(3)
Subject to regulation 53B, if a person has a transitional lump sum RBL under subregulation (2), the amount of that RBL is the lesser of:
(a)
the amount of the person's vested superannuation benefits as at 30 June 1994; and
(b)
the amount of the person's HAS-based lump sum RBL.
52(4)
An eligible person has a transitional pension RBL if:
(a)
the amount of the person's vested superannuation benefits as at 30 June 1994 exceeds $800,000; and
(b)
the amount of the person's HAS-based pension RBL exceeds $800,000.
52(5)
Subject to regulation 53B, if a person has a transitional pension RBL under subregulation (4), the amount of that RBL is the lesser of:
(a)
the amount of the person's vested superannuation benefits as at 30 June 1994; and
(b)
the amount of the person's HAS-based pension RBL.
Reg 52 inserted by SR No 461 of 1994.
REGULATION 53
53
RBLs - PERSONS AGED AT LEAST 45, BUT UNDER 50, ON 1 JULY 1994
(Repealed by SLI No 89 of 2007)
History
Reg 53 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53 formerly read:
REGULATION 53 RBLs - PERSONS AGED AT LEAST 45, BUT UNDER 50, ON 1 JULY 1994
53(1)
In this regulation,
"eligible person"
means a person born:
(a)
after 1 July 1944; and
(b)
on or before 1 July 1949.
53(2)
An eligible person has a transitional lump sum RBL if:
(a)
the amount of the person's HAS-based lump sum RBL exceeds $400,000; and
(b)
an amount exceeding $400,000 is obtained by adding:
(i)
the amount of the person's vested superannuation benefit; and
(ii)
the amount calculated in accordance with the following formula:
( |
HAS-based lump sum RBL
|
-
|
vested superannuation benefit
|
) |
× N
|
1826
|
where
N
is the number of days by which the person's age on 1 July 1994 exceeds the person's age on his or her 45th birthday.
Note: The number "1826" in the formula is the number of days in the period commencing on 1 July 1944 and ending on 30 June 1949.
53(3)
Subject to regulation
53B, if an eligible person has a transitional lump sum RBL under subregulation (2), the amount of that RBL is the lesser of:
(a)
the amount worked out, in relation to the person, under paragraph (2)(b); and
(b)
the person's HAS-based lump sum RBL.
53(4)
An eligible person has a transitional pension RBL if:
(a)
the amount of the person's HAS-based pension RBL exceeds $800,000; and
(b)
an amount exceeding $800,000 is obtained by adding:
(i)
the amount of the person's vested superannuation benefit; and
(ii)
the amount calculated in accordance with the following formula:
( |
HAS-based pension RBL
|
-
|
vested superannuation benefit
|
) |
× N
|
1826
|
where
N
is the number of days by which the person's age on 1 July 1994 exceeds the person's age on his or her 45th birthday.
Note: The number "1826" in the formula is the number of days in the period commencing on 1 July 1944 and ending on 30 June 1949.
53(5)
Subject to regulation
53B, if an eligible person has a transitional pension RBL under subregulation (4), the amount of that RBL is the lesser of:
(a)
the amount worked out, in relation to the person, under paragraph (4)(b); and
(b)
the person's HAS-based pension RBL.
Reg 53 inserted by SR No 461 of 1994.
REGULATION 53A
53A
RBLs - PERSONS AGED AT LEAST 50 ON 1 JULY 1994
(Repealed by SLI No 89 of 2007)
History
Reg 53A repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53A formerly read:
REGULATION 53A RBLs - PERSONS AGED AT LEAST 50 ON 1 JULY 1994
53A(1)
In this regulation,
``eligible person''
means a person born on or before 1 July 1944.
53A(2)
An eligible person has a transitional lump sum RBL if the amount of the person's HAS-based lump sum RBL exceeds $400,000.
53A(3)
Subject to regulation 53B, if an eligible person has a transitional lump sum RBL under subregulation (2), the amount of that RBL is the amount of the person's HAS-based lump sum RBL.
53A(4)
An eligible person has a transitional pension RBL if the amount of the person's HAS-based pension RBL exceeds $800,000.
53A(5)
Subject to regulation 53B, if an eligible person has a transitional pension RBL under subregulation (4), the amount of that RBL is the amount of the person's HAS-based pension RBL.
Reg 53A inserted by SR No 461 of 1994.
REGULATION 53B
53B
AMOUNT OF TRANSITIONAL RBLs
(Repealed by SLI No 89 of 2007)
History
Reg 53B repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53B formerly read:
REGULATION 53B AMOUNT OF TRANSITIONAL RBLs
53B(1)
If:
(a)
an ETP is paid to a person on a day (the
``ETP day''
) occurring before the person's 55th birthday; or
(b)
a superannuation pension or annuity that does not meet the pension and annuity standards is paid to a person with a commencement day occurring before the person's 55th birthday;
the person's transitional lump sum RBL worked out in accordance with subregulation 52(3), 53(3) or 53A(3) is discounted by 2.5% for each whole year in the period:
(c)
beginning on the birthday of the recipient immediately before the ETP day or the commencement day or, if the ETP day or the commencement day falls on the birthday of the recipient, on that birthday; and
(d)
ending immediately before the day that is or will be the recipient's 55th birthday.
53B(2)
The amount of transitional lump sum RBL or transitional pension RBL that applies to a person under regulation 52, 53 or 53A (reduced, where applicable, under subregulation (1)) is:
(a)
in the case of the 1994-1995 year of income - the amount of transitional lump sum RBL or transitional pension RBL; or
(b)
in the case of a later year of income - the amount that, under subsection 140ZD of the Act would replace the amount of transitional lump sum RBL or transitional pension RBL, on the basis that the indexable amount for the purposes of that subsection is:
(i)
the amount of transitional lump sum RBL or transitional pension RBL; or
(ii)
if that amount has been previously altered in accordance with this paragraph, the amount or the latest amount (as the case requires) obtained by that alteration.
53B(3)
This regulation applies subject to regulations 53C and 53D.
Reg 53B inserted by SR No 461 of 1994.
REGULATION 53C
53C
REASONABLE BENEFIT LIMIT WHERE AMOUNT IN ADF, LIFE ASSURANCE COMPANY OR REGISTERED ORGANISATION
(Repealed by SLI No 89 of 2007)
History
Reg 53C repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53C formerly read:
REGULATION 53C REASONABLE BENEFIT LIMIT WHERE AMOUNT IN ADF, LIFE ASSURANCE COMPANY OR REGISTERED ORGANISATION
53C(1)
Where:
(a)
the Commissioner is to make a determination under section 140R or 140T of the Act in relation to a benefit paid, or commencing to be paid, to the person; and
(b)
on 15 February 1990 an amount was held in relation to the person by:
(i)
an ADF, other than a continuously non-complying ADF, in respect of an amount deposited with the ADF on or before that date; or
(ii)
a life assurance company or a registered organisation in respect of a rolled-over amount deposited with the company or organisation on or before that date;
the amount of the person's transitional lump sum RBL or transitional pension RBL is the greater of:
(c)
the amount of the person's transitional lump sum RBL or transitional pension RBL, worked out in accordance with subregulation 53B(2);
and:
(d)
subject to subregulations (2) and (3), if the person was at least 50 years old on 15 February 1990 - the sum of:
(i)
the aggregate of the rolled-over amounts held in ADFs, life assurance companies or registered organisations on behalf of the person on that day; and
(ii)
the amount of earnings that have accrued after that day on those amounts while held in those funds, companies or organisations or in:
(A)
other ADFs, life assurance companies or registered organisations; or
(B)
superannuation funds; and
(iii)
the amount of earnings on the amount referred to in subparagraph (ii); or
(e)
in any other case - the aggregate of the rolled-over amounts held in ADFs, life assurance companies or registered organisations on behalf of the person on that day.
53C(2)
For the purposes of subparagraph (1)(d)(ii), earnings are to be taken to accrue on amounts rolled-over to a superannuation fund and used to provide defined benefits at the rate of 10% annually.
53C(3)
For the purposes of applying paragraph (1)(d) to a person, where:
(a)
after 15 February 1990, an amount is paid out of a superannuation fund, an ADF, life assurance company or registered organisation in respect of the person; and
(b)
after that day the person rolled-over an amount to the fund, company or organisation (not being an amount that was held in another ADF, life assurance company or registered organisation on behalf of the person on that day);
the amount referred to in paragraph (a) is taken to be applied first in reduction of the amount referred to in paragraph (b), and any earnings attributable to that amount, before being applied in reduction of the amount that was held in the fund, company or organisation on that day.
Reg 53C inserted by SR No 461 of 1994.
REGULATION 53D
53D
REASONABLE BENEFIT LIMIT WHERE RECIPIENT MEMBER OF CERTAIN FUND ON 15 AUGUST 1989
(Repealed by SLI No 89 of 2007)
History
Reg 53D repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53D formerly read:
REGULATION 53D REASONABLE BENEFIT LIMIT WHERE RECIPIENT MEMBER OF CERTAIN FUND ON 15 AUGUST 1989
53D
Where:
(a)
the Commissioner is to make a determination under section 140R or 140T of the Act in relation to a superannuation pension that:
(i)
has commenced to be paid to a person; and
(ii)
is payable under rules that meet the pension and annuity standards; and
(b)
the pension is payable by a superannuation fund of which the person was a member on l5 August 1989;
the amount of the person's transitional lump sum RBL or transitional pension RBL is the greater of:
(c)
the amount of the person's transitional lump sum RBL or transitional pension RBL, worked out in accordance with subregulation 53B(2);
and:
(d)
the capital value of the pension under the governing rules of the fund as at l5 August 1989.
Reg 53D inserted by SR No 461 of 1994.
Division 3 - Registration procedure and review of decisions
History
Div 3 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007.
Div 3 heading substituted by SR No 80 of 1999.
REGULATION 53E
53E
REGISTRATION OF TRANSITIONAL RBLs
(Repealed by SLI No 89 of 2007)
History
Reg 53E repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53E formerly read:
REGULATION 53E REGISTRATION OF TRANSITIONAL RBLs
53E(1)
A person who, under regulation 52, 53 or 53A is an eligible person, must register a transitional RBL with the Commissioner:
(a)
not later than 31 December 1996; or
(b)
if the Commissioner grants an application for registration by a later date, by that date.
History
Reg 53E(1) amended by SR No 80 of 1999.
53E(2)
A person mentioned in subregulation (1) who wants to register by a later date (
the applicant
) must apply to the Commissioner in writing and must include with the application the reasons for needing a later registration date.
History
Reg 53E(2) inserted by SR No 80 of 1999.
53E(3)
If the Commissioner refuses to allow registration at a later date, the Commissioner must give to the applicant a written notice setting out the reasons for the refusal.
History
Reg 53E(3) inserted by SR No 80 of 1999.
Reg 53E inserted by SR No 461 of 1994.
REGULATION 53F
53F
FORM OF REGISTRATION
(Repealed by SLI No 89 of 2007)
History
Reg 53F repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53F formerly read:
REGULATION 53F FORM OF REGISTRATION
53F
Registration under regulation 53E must be in a form approved by the Commissioner for the purpose.
Reg 53F inserted by SR No 461 of 1994.
REGULATION 53FA
53FA
REVIEW OF DECISIONS
(Repealed by SLI No 89 of 2007)
History
Reg 53FA repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53FA formerly read:
REGULATION 53FA REVIEW OF DECISIONS
53FA(1)
This regulation applies to a decision of the Commissioner under any of the following provisions:
(a)
subparagraph 47(3)(c)(ii);
(b)
regulation 51;
(c)
regulation 53E.
53FA(2)
A person who is dissatisfied with a decision made in relation to the person may object against the decision in the manner set out in Part IVC of the Taxation Administration Act 1953.
53FA(3)
During the 12 months from the commencement of this subregulation, the reference in subregulation (1) to subparagraph 47(3)(c)(ii), regulation 51 and regulation 53E includes a reference to that subparagraph and those regulations as in force from 1 July 1994 until the commencement of this subregulation.
Reg 53FA inserted by SR No 80 of 1999.
Division 4 - Provisions under Division 14 of Part III of the Act
History
Div 4 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007.
REGULATION 53G
53G
INTERPRETATION
(Repealed by SLI No 89 of 2007)
History
Reg 53G repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53G formerly read:
REGULATION 53G INTERPRETATION
53G
In this Division:
"SIS Regulations"
means the Superannuation Industry (Supervision) Regulations as in force from time to time.
Reg 53G inserted by SR No 461 of 1994.
REGULATION 53H
53H
PENSION VALUATION FACTOR (S 140C OF THE ACT)
(Repealed by SLI No89 of 2007)
History
Reg 53H repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53H formerly read:
REGULATION 53H PENSION VALUATION FACTOR (S 140C OF THE ACT)
53H
For the purposes of the definition of
pension valuation factor
in section 140C of the Act, the factor mentioned in the definition is to be ascertained in accordance with Schedule 1B of the SIS Regulations.
Reg 53H inserted by SR No 461 of 1994.
REGULATION 53J
53J
PENSION AND ANNUITY STANDARDS (ACT S 140L)
(Repealed by SLI No 89 of 2007)
History
Reg 53J repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53J formerly read:
REGULATION 53J PENSION AND ANNUITY STANDARDS (ACT S 140L)
53J
For section 140L of the Act, the circumstances set out in the table are circumstances in which a pension or annuity is treated as meeting the pension standards mentioned in that section.
Pension or annuity
|
Circumstances
|
Annuity |
The annuity meets the standards set out in subregulation 1.05(2), (9) or (10) of the SIS Regulations. |
Pension |
The pension meets the standards set out in subregulation 1.06(2), (7) or (8) of the SIS Regulations, or subregulation 1.07(3A) of the Retirement Savings Accounts Regulations 1997 (
the SIS and RSA pension standards
) |
Superannuation pension taken to have commenced under paragraph 140M(1A)(e) of the Act |
The superannuation pension mentioned in paragraph 140M(1A)(c) of the Act (that would have been paid to the original payee if there had not been a payment split) would have met the SIS and RSA pension standards |
Superannuation pension taken to have commenced under paragraph 140M(1C)(g) of the Act |
The superannuation pension mentioned in paragraph 140M(1C)(a) of the Act (that was paid before the payment split) met the SIS and RSA pension standards immediately before the payment split |
Reg 53J amended by SR No 146 of 2004, substituted by SR No 215 of 2002, amended by SR No 313 of 1998 and inserted by SR No 461 of 1994.
REGULATION 53K
53K
PAYERS OF BENEFITS - SPECIFIED INFORMATION (ACT S 140M)
(Repealed by SLI No 89 of 2007)
History
Reg 53K repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53K formerly read:
REGULATION 53K PAYERS OF BENEFITS - SPECIFIED INFORMATION (ACT S 140M)
53K
For each of the following provisions of the Act, the payer mentioned in the provision must give to the Commissioner a notice containing the information set out in Schedule 2B:
(a)
subsection 140M(1);
(b)
paragraph 140M(1A)(f);
(c)
paragraph 140M(1C)(f).
Reg 53K substituted by SR No 215 of 2002 and inserted by SR No 461 of 1994.
REGULATION 53L
53L
PAYERS OF ETPs THAT ARE ROLLED-OVER - SPECIFIED INFORMATION (S 140Q OF THE ACT)
(Repealed by SLI No 89 of 2007)
History
Reg 53L repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53L formerly read:
REGULATION 53L PAYERS OF ETPs THAT ARE ROLLED-OVER - SPECIFIED INFORMATION (S 140Q OF THE ACT)
53L
For the purposes of subsection 140Q(1) of the Act, the information that a payer mentioned in that section must give to the Commissioner is the information specified in Schedule 2B.
Reg 53L inserted by SR No 461 of 1994.
REGULATION 53M
53M
INTERPRETATION OF SCHEDULES 2A AND 2B
(Repealed by SLI No 89 of 2007)
History
Reg 53M repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 4, effective 1 July 2007. Reg 53M formerly read:
REGULATION 53M INTERPRETATION OF SCHEDULES 2A AND 2B
53M
So far as the provisions of Division 1 of Part 5A are relevant, those provisions apply:
(a)
subject to clause 1 of Schedule 2A - in relation to that Schedule; and
(b)
in relation to Schedule 2B.
Reg 53M inserted by SR No 461 of 1994.
PART 6 - TAX FILE NUMBERS
History
Pt 6 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 19, effective 1 July 2015.
Pt 6, formerly Pt VA, renumbered by SR No 192 of 1990. Part inserted by Act No 97 of 1988.
REGULATION 54
54
INTERPRETATION
(Repealed by SLI No 39 of 2015)
History
Reg 54 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 19, effective 1 July 2015. Reg 54 formerly read:
REGULATION 54 INTERPRETATION
54
In this Part:
"investment body"
means an investment body as defined in section 202D of the Act;
"investment reference number"
, in relation to an investment of a kind mentioned in section 202D of the Act, means the number used by the investment body in its records for the purpose of identifying the investments of investors;
"investor"
means an investor as defined in section 202D of the Act;
"phasing-in period"
means the phasing-in period mentioned in section 202DA of the Act;
"quarter"
means a period of 3 months commencing on 1 January, 1 April, 1 July or 1 October.
Reg 54, formerly reg 43A, renumbered by SR No 192 of 1990.
Regulation inserted by Act No 97 of 1988.
REGULATION 55
55
FILE NUMBER REPORTS
(Repealed by SLI No 39 of 2015)
History
Reg 55 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 19, effective 1 July 2015. Reg 55 formerly read:
REGULATION 55 FILE NUMBER REPORTS
55(1)
Each person who is an investment body in relation to any investments mentioned in section 202D of the Act in connection with which an investor's tax file number is quoted under Part VA of the Act, or ABN is quoted under section 12-155 of Schedule 1 to the Taxation Administration Act 1953, during a particular reporting period shall give to the Commissioner in a form approved by the Commissioner a written report of all such investments.
History
Reg 55(1) amended by SR No 72 of 2000.
Reg 55(1) amended by SR No 240 of 1991.
55(2)
Subregulation (1) does not apply to an investment body in relation to a reporting period in respect of which:
(a)
there is in force an agreement between the investment body and the Commonwealth relating to the reporting of tax file numbers or ABNs; and
(b)
the investment body has complied with the provisions of the agreement.
History
Reg 55(2)(a) amended by SR No 72 of 2000.
55(3)
Subregulation (1) does not apply to a reporting period that ended before the beginning of the phasing-in period.
55(4)
The report shall be given to the Commissioner within one month after the end of the reporting period to which it relates, or within such further time as the Commissioner, by written notice given to the investment body, allows.
55(5)
The report shall state, in relation to each investment referred to in subregulation (1):
(a)
the investor's full name and address;
(b)
the investor's tax file number or ABN; and
(c)
the investment reference number (if any) in relation to the investment.
History
Reg 55(5)(b) amended by SR No 72 of 2000.
55(6)
In this regulation,
"reporting period"
means:
(a)
a quarter; or
(b)
in respect of an investment body to which a notice has been given under subregulation (7), the period specified in the notice.
55(7)
The Commissioner may, by notice in writing given to an investment body, inform the body that, for the purposes of this regulation, the period specified in the notice (being a period greater than 3 months) is to be the reporting period in respect of the body.
Reg 55, formerly reg 43B, and subreg (2), (3), (4), (5), (6) and (7), formerly subreg (1A), (2), (3), (4), (5) and (6), renumbered by SR No 192 of 1990.
[Note: The following history notes for the pre-1 July 1990 amendments to this Regulation reflect its former numbering.]
Reg 43B(1A) inserted by SR No 151 of 1990.
Reg 43B inserted by Act No 97 of 1988.
REGULATION 56
56
ANNUAL INVESTMENT INCOME REPORTS
(Repealed by SLI No 39 of 2015)
History
Reg 56 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 19, effective 1 July 2015. Reg 56 formerly read:
REGULATION 56 ANNUAL INVESTMENT INCOME REPORTS
56(1)
A person who at any time during a financial year is an investment body that accepted any investments mentioned in section 202D of the Act must give to the Commissioner a written report relating to those investments in the following form:
(a)
for a report in respect of a financial year beginning on or before 1 July 2008 - a form approved by the Commissioner;
(b)
for a report in respect of a financial year beginning on or after 1 July 2009 - the approved form.
Note:
For the meaning of
approved form
, see subsection 6(1) of the Act and section 388-50 of Schedule 1 to the Taxation Administration Act 1953.
History
Reg 56(1) substituted by SLI No 30 of 2009, reg 3 and Sch 1 item 1, effective 1 October 2010. Reg 56(1) formerly read:
56(1)
A person who at any time during a financial year is an investment body that accepted any investments mentioned in section 202D of the Act must give to the Commissioner in a form approved by the Commissioner a written report relating to those investments.
Reg 56(1) substituted by SR No 240 of 1991.
56(2)
Subregulation (1) does not apply to a financial year that ended at or before the end of the phasing-in period.
56(3)
The report shall be given to the Commissioner within 4 months after the end of the financial year to which it relates, or within such further time as the Commissioner, by written notice given to the investment body, allows.
56(4)
Subject to subregulation (4A), the report must state, in relation to each investment, in respect of the financial year:
(a)
the full name of:
(i)
the investor; or
(ii)
each of 2 investors; or
(iii)
2 of 3 or more investors;
as the case requires; and
(b)
the address of:
(i)
the investor; or
(ii)
1 of 2 or more investors;
as the case requires; and
(c)
where there were more than 2 investors - that fact; and
(d)
the tax file number (if any) quoted, for the purpose of Part
VA of the Act, or the ABN (if any) quoted under section
12-155 of Schedule
1 to the
Taxation Administration Act 1953, by:
(i)
the investor; or
(ii)
each of 2 investors; or
(iii)
2 of 3 or more investors;
as the case requires; and
(e)
where an investor is to be taken to have quoted his or her tax file number because of the application of a provision of Division
5 of that Part - the code approved by the Commissioner; and
(f)
unless paragraph (fa) applies - the total amount of income paid by the investment body; and
(fa)
if income is paid under an eligible deferred interest investment entered into on or after 1 February 1992:
(i)
so much of the payment as is a periodic interest payment within the meaning of Division 16E of Part III of the Act; and
(ii)
if the income became payable at the end of the term of the investment - so much of the amount of the payment as does not exceed the amount that would have been included in the investor's assessable income for the year of income in which the term ended if section 159GQ and paragraph 159GR(2)(c) of the Act applied to the investor; and
(iii)
any amount that is taken under section 159GQ of the Act to be included in the investor's assessable income for the year of income, excluding any amount of that kind for the year of income in which the end of the term of the investment occurred; and
(g)
the total amount of:
(i)
(Repealed by SLI No 216 of 2006)
(ii)
any amounts withheld under sections 12-140 and 12-145 of Schedule 1 to the Taxation Administration Act 1953; and
(iii)any payments made under Division 14 of Schedule 1 to that Act because of the operation of sections 12-140 and 12-145; and
(ga)
the amount of any TFN withholding tax paid by the investment body; and
(h)
where the investment body has paid an amount of income to a non-resident:
(i)
the overseas address of the non-resident; and
(ii)
the overseas address code applicable to that address, being one of the codes specified by the Commissioner; and
(iii)
the total of any amount withheld under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953 and any payment made under Division 14 of that Schedule because of the operation of Subdivision 12-F; and
(iv)
the total of any amounts withheld from fund payments under Subdivision 12-H of Schedule 1 of the Taxation Administration Act 1953; and
(j)
the investment reference number (if any).
Archived:
Reg 56(4)(g)(i) repealed as inoperative and reg 56(4)(h)(iii) substituted by SLI No 216 of 2006, reg 3 and Sch 1 items 4 and 5, effective 14 September 2006. For former wording see the CCH Australian Income Tax Legislation archive.
History
S 56(4) amended by SLI No 141 of 2008, reg 3 and Sch 1 item 1, by inserting para (h)(iv), applicable to amounts withheld from fund payments made in relation to the first income year starting on or after the first 1 July after 23 June 2008, and later income years.
Reg 56(4) amended by SR No 72 of 2000, SR No 449 of 1992 and 240 of 1991.
56(4A)
In relation to each secondary investment to which section
202DDB of the Act applies, the report must state in respect of the financial year:
(a)
the full name of the interposed entity; and
(b)
the full name of each of the primary investors identified in the descriptive title of the investment in accordance with regulation
56A; and
(c)
the address of the interposed entity; and
(d)
the tax file number (if any) quoted, or taken to have been quoted, for the purpose of Part
VA of the Act, and the ABN (if any) quoted under section
12-155 of Schedule
1 to the
Taxation Administration Act 1953, by the interposed entity; and
(e)
where the interposed entity is taken to have quoted the interposed entity's tax file number because of the application of a provision of Division
5 of that Part - the code approved by the Commissioner; and
(f)
the total amount of income paid by the secondary investment body, excluding any amount that is taken to be included in the income of an investor under section
159GQ or paragraph
159GR(2)(c) of the Act; and
(fa)
in respect of an investment entered into on or after 1 February 1992 - the total amount that is taken to be included in the income of the investor, or each of the investors, under section
159GQ of the Act excluding income that has already been included in a report under this subregulation; and
(fb)
in respect of an investment entered into on or after 1 February 1992 - any amount that is taken to be included in the income of an investor under paragraph
159GR(2)(c) of the Act; and
(g)
the total amount of:
(i)
(Repealed by SLI No 216 of 2006)
(ii)
any amounts withheld under section 12-140 or 12-145 of Schedule 1 to the Taxation Administration Act 1953; and
(iii)
any payments made under Division 14 of Schedule 1 to that Act because of the operation of sections 12-140 and 12-145; and
(ga)
the amount of any TFN withholding tax paid by the investment body; and
(h)
the investment reference number (if any).
Archived:
Reg 56(4A)(g)(i) repealed as inoperative by SLI No 216 of 2006, reg 3 and Sch 1 item 6, effective 14 September 2006. For former wording see the CCH Australian Income Tax Legislation archive.
History
Reg 56(4A) amended by SR No 72 of 2000 and SR No 449 of 1992.
Reg 56(4A), (5), (5A) and (5B) substituted for former reg 56(5) by SR No 240 of 1991.
56(5)
Subject to subregulation (5B), subregulation (1) does not apply to an investment in relation to a financial year if the total amount of income paid on the investment is less than $1.
History
Reg 56(5) substituted by SR No 289 of 2001.
Reg 56(4A), (5), (5A) and (5B) substituted for former reg 56(5) by SR No 240 of 1991.
56(5A)
Subject to subregulation (5B), subregulation (1) does not apply to a person who at any time during a financial year is an investment body that accepted an investment if the total number of the investments that the person accepted during the financial year is less than 10.
History
Reg 56(4A), (5), (5A) and (5B) substituted for former reg 56(5) by SR No 240 of 1991.
56(5B)
Subregulation (1) applies to an investment in relation to a financial year if a person who at any time in the financial year is the investment body that accepted the investment is required:
(a)
to withhold under section
12-140 or
12-145 of Schedule
1 to the
Taxation Administration Act 1953, an amount from any income that an investor is entitled to receive in the financial year in respect of the investment; or
(b)
to pay an amount to the Commissioner under Division
14 of Schedule
1 to that Act because of the operation of those sections.
History
Reg 56(5B)(a) amended by SLI No 216 of 2006, reg 3 and Sch 1 item 7, by amending references to repealed inoperative provisions, effective 14 September 2006.
Reg 56(5B) substituted by No 72 of 2000.
Reg 56(4A), (5), (5A) and (5B) substituted for former reg 56(5) by SR No 240 of 1991.
56(5C)
For the purposes of paragraph (4)(fa), any accounting period, other than a year of income, that is adopted in relation to the income is to be ignored.
History
Reg 56(5C) inserted by SR No 449 of 1992.
56(6)
For the purposes of paragraphs (4)(f) and (h), (4A)(f) and subregulation (5):
(a)
where income is not actually paid to a person but is reinvested, accumulated, capitalised or otherwise dealt with on behalf of the person, or as the person directs, the income shall be taken to be paid to the person when it is so reinvested, accumulated, capitalised or otherwise dealt with;
(b)
where a person becomes presently entitled, as an investor in relation to an investment of the kind mentioned in item 5 in the table in subsection
202D(1) of the Act, to a share of income in respect of the investment, that share of the income shall be taken to be paid to the person as income in respect of the investment when the person becomes so entitled;
(c)
(Omitted by SR No 240 of 1991)
56(7)
(Omitted by SR No 240 of 1991)
56(8)
(Omitted by SR No 289 of 2001)
History
Reg 56(8) amended by SR No 240 of 1991.
56(9)
In this regulation
"investor"
, in relation to an investment in relation to a financial year, means a person who was, at any time during the financial year, an investor, as defined in section
202D of the Act, in relation to the investment.
History
Reg 56(9) amended by SR No 240 of 1991.
Reg 56, formerly reg 43C, renumbered by SR No 192 of 1990.
[Note: The following history notes for the pre-1 July 1990 amendments to this Regulation reflect its former numbering.]
Reg 43C(4) substituted by SR No 151 of 1990.
Reg 43C(5)(b) substituted by SR No 151 of 1990.
Reg 43C(6) amended by SR No 151 of 1990.
Reg 43C(9) inserted by SR No 151 of 1990.
Reg 43C inserted by Act No 97 of 1988.
REGULATION 56A
56A
PARAGRAPH 202DDB(1)(b) OF THE ACT: CONDITION
(Repealed by SLI No 39 of 2015)
History
Reg 56A repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 19, effective 1 July 2015. Reg 56A formerly read:
REGULATION 56A PARAGRAPH 202DDB(1)(b) OF THE ACT: CONDITION
56A
For the purposes of paragraph 202DDB(1)(b) of the Act, the condition is that the secondary investment must have a descriptive title which identifies all the primary investors.
Reg 56A inserted by SR No 240 of 1991.
REGULATION 57
57
REVIEWABLE DECISIONS
(Repealed by SLI No 39 of 2015)
History
Reg 57 repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 19, effective 1 July 2015. Reg 57 formerly read:
REGULATION 57 REVIEWABLE DECISIONS
57
For the purposes of section 202F of the Act, the following decisions of the Commissioner, being decisions made following an application by the investment body concerned, are reviewable decisions:
(a)
a decision refusing to extend, or extending, the time referred to in subregulation 55(4);
(b)
a decision refusing to give, or giving, a notice under subregulation 55(7);
(c)
a decision refusing to extend, or extending, the time referred to in subregulation 56(3);
(d)
a decision varying or revoking a notice given under subregulation 55(4), 55(7) or 56(3).
Reg 57, formerly reg 43D, renumbered by SR No 192 of 1990.
Regulation inserted by Act No 97 of 1988.
PART 6A - INVESTMENT BODY REMITTER NUMBERS
History
Pt 6A repealed by SR No 37 of 2004 and inserted by SR No 240 of 1991.
REGULATION 57A
57A
ISSUE OF INVESTMENT BODY REMITTER NUMBERS
(Repealed by SR No 37 of 2004)
History
Reg 57A inserted by SR No 240 of 1991.
REGULATION 57B
57B
ALTERATION OF INVESTMENT BODY REMITTER NUMBERS
(Repealed by SR No 37 of 2004)
History
Reg 57B inserted by SR No 240 of 1991.
REGULATION 57C
57C
CANCELLATION OF INVESTMENT BODY REMITTER NUMBERS
(Repealed by SR No 37 of 2004)
History
Reg 57C inserted by SR No 240 of 1991.
REGULATION 57D
57D
QUOTATION OF INVESTMENT BODY REMITTER NUMBERS
(Repealed by SR No 37 of 2004)
History
Reg 57D inserted by SR No 240 of 1991.
PART 7 - COLLECTION AND RECOVERY OF TAX
History
Pt 7 repealed by SLI No 3 of 2011, reg 3 and Sch 1 item 1, effective 15 February 2011.
Pt 7, formerly Pt VI, renumbered by SR No 192 of 1990.
Archived:
Div 1 repealed as inoperative by SLI No 216 of 2006, reg 3 and Sch 1 item 8, effective 14 September 2006. For former wording see the CCH Australian Income Tax Legislation archive.
Division 2 - Eligible termination payments
History
Div 2 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007.
Div 2 heading substituted by SLI No 216 of 2006, reg 3 and Sch 1 item 9, effective 14 September 2006. The heading formerly read:
Division 2 - Collection by instalments of tax on persons other than companies
Subdivision 1 - Interpretation of Division 2
History
Subdiv 1 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007.
Subdiv 1 omitted by SR No 72 of 2000.
Subdiv 1, formerly Subdiv AAAA, renumbered by SR No 192 of 1990. Subdivision inserted by SR No 126 of 1990.
REGULATION 69
69
INTERPRETATION
(Omitted by SR No 72 of 2000)
History
Reg 69, formerly reg 54AA, renumbered by SR No 192 of 1990.
Regulation inserted by SR No 126 of 1990.
Subdivision 2 - Rates of Deductions from Salaries or Wages of Employees
History
Subdiv 2 omitted by SR No 72 of 2000.
Subdiv 2, formerly Subdiv A, renumbered by SR No 192 of 1990.
Subdivision 3 - Eligible termination payments
History
Subdiv 3 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007.
Subdiv 3 heading substituted by SR No 14 of 1998.
Subdiv 3, formerly Subdiv AAA, renumbered by SR No 192 of 1990. Subdivision inserted by SR No 172 of 1984.
REGULATION 97
97
DEFINITIONS FOR SUBDIVISIONS 3 AND 3A
(Repealed by SLI No 89 of 2007)
History
Reg 97 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 97 formerly read:
REGULATION 97 DEFINITIONS FOR SUBDIVISIONS 3 AND 3A
97(1)
Expressions used in this Subdivision or Subdivision 3A that are used in Subdivision AAA and AAB of Division 17 of Part III of the Act have, unless the contrary intention appears, the same meanings in this Subdivision and Subdivision 3A as in Subdivisions AAA and AAB of Division 17 of Part III of the Act.
History
Reg 97(1) amended by SR No 72 of 2000 and SR No 14 of 1998.
97(2)
In this Subdivision and Subdivision 3A:
"15 February 1990 roll-over balance"
, for a person, means the amount mentioned in paragraph 53C(1)(d) or (e);
History
Definition of "15 February 1990 roll-over balance" inserted by SR No 14 of 1998.
"applied amount"
has the meaning given by subparagraph 27D(1)(b)(ii) of the Act;
History
Definition of "applied amount" inserted by SR No 14 1998.
"approved deposit fund"
has the meaning given by subsection 27A(1) of the Act;
History
Definition of "approved deposit fund" inserted by SR No 14 1998.
"cash amount"
has the meaning given to "retained amount" by subsection 27AC(2) of the Act;
History
Definition of "cash amount" inserted by SR No 14 1998.
"CGT exempt component"
has the meaning given by subsection 27A(1) of the Act;
History
Definition of "CGT exempt component" inserted by SR No 14 1998.
"commencement day"
has the meaning given by subsection 27AAAA(6) of the Act;
History
Definition of "commencement day" inserted by SR No 14 1998.
"commutation ETP"
has the meaning given by subsection 27AAAA(2) of the Act;
History
Definition of "commutation ETP" inserted by SR No 14 1998.
"concessional component"
(Repealed by SR No 72 of 2000)
History
Definition of "concessional component" inserted by SR No 14 1998.
"concessional component"
(Omitted by SR No 202 of 1993)
"death benefit"
is a payment of a kind mentioned in Table 1 of subsection 27AAA(2) of the Act;
History
Definition of "death benefit" inserted by SR No 14 of 1998.
"dependant"
has the meaning given by paragraph (b) of the definition of "dependant" in subsection 27A(1) of the Act;
History
Definition of "dependant" substituted by SR No 14 of 1998.
"eligible service period"
has the meaning given by subsection 27A(1) of the Act;
History
Definition of "eligible service period" inserted by SR No 14 of 1998.
EPSSS
has the same meaning as in the SIS Regulations.
History
Definition of "EPSSS" inserted by SLI No 187 of 2006, reg 3 and Sch 1 item 1, effective 18 July 2006.
"ETP"
has the meaning given to "
eligible termination payment
" in subsection 27A(1) of the Act;
History
Definition of"ETP" inserted by SR No 14 of 1998.
"ETP group certificate"
(Repealed by SR No 72 of 2000)
History
Definition of "ETP group certificate" inserted by SR No 14 of 1998.
"ETP pre-payment statement"
means a statement, given by the payer to the taxpayer, under regulation 99;
History
Definition of "ETP pre-payment statement" inserted by SR No 14 of 1998.
"ETP roll-over statement"
means a statement given under regulation 99D;
History
Definition of "ETP roll-over statement" inserted by SR No 14 of 1998.
"ISC-directed commutation payment"
(Omitted by SR No 56 of 1996)
History
Definition of "ISC-directed commutation payment" inserted by SR No 390 of 1991.
"non-dependant"
(Repealed by SR No 72 of 2000)
History
Definition of "non-dependant" inserted by SR No 56 of 1996.
"non-qualifying component"
(Repealed by SR No 72 of 2000)
History
Definition of "non-qualifying component" inserted by SR No 14 of 1998.
"original underlying commutation ETP"
has the meaning given by subsection 27AAAA(5) of the Act;
History
Definition of "original underlying commutation ETP" inserted by SR No 14 of 1998.
"PAYE account number"
(Repealed by SR No 72 of 2000)
History
Definition of "PAYE account number" inserted by SR No 14 of 1998.
"payer"
means a person or entity who makes an ETP;
History
Definition of "payer" inserted by SR No 14 of 1998.
"post-June 83 component"
, in relation to an ETP, means the amount that would be the post-June 83 component of that ETP for the purposes of paragraph (e) of subsection 27AA(1) of the Act, if:
(a)
paragraph (ca) of that subsection were omitted; and
(b)
the expression
"- EC"
(wherever occurring) were omitted from paragraph (d) of that subsection;
History
Definition of "post-June 83 component" substituted by SR No 390 of 1991.
"pre-July 83 component"
, in relation to an ETP, means the amount that would be the pre-July 83 component of that ETP for the purposes of paragraph 27AA(1)(d) of the Act if the expression
"- EC"
(wherever occurring) were omitted from that paragraph;
History
Definition of "pre-July 83 component" substituted by SR No 390 of 1991.
"prescribed non-resident"
(Repealed by SR No 72 of 2000)
"preserved benefits"
has the same meaning as in Part 6 of the SIS Regulations;
History
Definition of "preserved benefits" amended by SLI No 187 of 2006, reg 3 and Sch 1 item 14, by substituting "SIS Regulations" for "Superannuation Industry (Supervision) Regulations", effective 18 July 2006.
Definition of "preserved benefits" inserted by SR No 14 of 1998.
"qualifying eligible termination payment"
has the meaning given by subsection 27A(12) of the Act;
History
Definition of "qualifying eligible termination payment" inserted by SR No 14 of 1998.
"receiving fund"
means the recipient of a qualifying eligible termination payment;
History
Definition of "receiving fund" inserted by SR No 14 of 1998.
receiving spouse
has the meaning given by regulation 6.46 of the SIS Regulations.
History
Definition of "receiving spouse" inserted by SLI No 187 of 2006, reg 3 and Sch 1 item 2, effective 18 July 2006.
"regulated superannuation fund"
has the meaning given by section 19 of the Superannuation Industry (Supervision) Act 1993;
History
Definition of "regulated superannuation fund" inserted by SR No 14 of 1998.
"restricted non-preserved benefits"
has the same meaning as in Part 6 of the SIS Regulations;
History
Definition of "restricted non-preserved benefits" amended by SLI No 187 of 2006, reg 3 and Sch 1 item 14, by substituting "SIS Regulations" for "Superannuation Industry (Supervision) Regulations", effective 18 July 2006.
Definition of "restricted non-preserved benefits" inserted by SR No 14 of 1998.
"retained amount of the pre-July 83 component" and "retained amount of the post-June 83 component"
(Repealed by SR No 72 of 2000)
History
Definitions of "retained amount of the pre-July 83 component" and "retained amount of the post-June 83 component" inserted by SR No 202 of 1993.
"retirement savings account provider"
has the meaning given by section 12 of the Retirement Savings Accounts Act 1997;
History
Definition of "retirement savings account provider" inserted by SR No 14 of 1998.
"roll-over payment"
, in relation to an ETP, means the payment of an amount in the manner described in subsection 27A(12) of the Act;
History
Definition of "roll-over payment" amended by SR No 390 of 1991.
"taxed element of the post-June 83 component"
means the extent, determined under section 27AB of the Act, to which the post-June 83 component consists of a taxed element;
"undeducted contributions"
(Omitted by SR No 202 of 1993)
"underlying commutation ETP"
has the meaning given by subsection 27AAAA(3) of the Act;
History
Definition of "underlying commutation ETP" inserted by SR No 14 of 1998.
"unrestricted non-preserved benefits"
has the same meaning as in Part 6 of the SIS Regulations;
History
Definition of "unrestricted non-preserved benefits" amended by SLI No 187 of 2006, reg 3 and Sch 1 item 14, by substituting "SIS Regulations" for "Superannuation Industry (Supervision) Regulations", effective 18 July 2006.
Definition of "unrestricted non-preserved benefits" inserted by SR No 14 of 1998.
"untaxed element of the post-June 1983 component"
(Repealed by SR No 72 of 2000)
History
Reg 97(2) amended by SR No 14 of 1998.
Reg 97, formerly reg 54DAO, renumbered by SR No 192 of 1990.
[Note: The following history notes for the pre-1 July 1990 amendments to this Regulation reflect its former numbering.]
Reg 54DAO(1) substituted by SR No 126 of 1990.
Definition of "non-qualifying component" inserted by SR No 208 of 1988.
Definition of "post-June 83 component" inserted by SR No 126 of 1990.
Definition of "post 30 June 1983 component" omitted by SR No 126 of 1990.
Definition of "pre-July 83 component" inserted by SR No 126 of 1990.
Definition of "pre 1 July 1983 component" omitted by SR No 126 of 1990.
Definition of "prescribed non-resident" inserted by Act No 97 of 1988.
Definition of "roll-over payment" inserted by SR No 208 of 1988.
Definition of "taxed element of the post-June 83 component" inserted by SR No 126 of 1990.
Definition of "untaxed element of the post-June 83 component" inserted by SR No 126 of 1990.
Reg 54DAO inserted by SR No 172 of 1984.
REGULATION 98
98
FAMILY LAW SUPERANNUATION INTEREST SPLITS - CIRCUMSTANCES RELATING TO INTERESTS FOR NON-MEMBER SPOUSES (ACT S 27ACA ETC)
(Repealed by SLI No 89 of 2007)
History
Reg 98 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 98 formerly read:
REGULATION 98 FAMILY LAW SUPERANNUATION INTEREST SPLITS - CIRCUMSTANCES RELATING TO INTERESTS FOR NON-MEMBER SPOUSES (ACT S 27ACA ETC)
98(1)
This Regulation is made for the purposes of the provisions of the Act set out in the table.
Item
|
Provision
|
1 |
subparagraph 27ACA(1)(b)(ii) |
2 |
paragraph 27ACB(1)(a) |
3 |
paragraph 27ACB(1A)(a) |
4 |
subparagraph 82AAT(1AA)(a)(ii) |
5 |
subparagraph 82AAT(1CBA)(a)(ii) |
6 |
subparagraph 140M(1C)(d)(ii) |
7 |
subparagraph 140ZN(3)(d)(ii) |
8 |
subparagraph 140ZP(3)(d)(ii) |
Note:
These provisions mention the creation of an interest for a non-member spouse in circumstances prescribed by regulations.
98(2)
A circumstance is that an interest in a superannuation fund, or an annuity is created for the non-member spouse in such a way that, because of Division 2.2 of the
Family Law (Superannuation) Regulations 2001, a payment in respect of the interest or annuity of the member spouse, made after the interest or annuity is created, would not be a splittable payment.
Note:
Division 2.2 of the Family Law (Superannuation) Regulations 2001 sets out alternative ways in which a superannuation agreement, flag lifting agreement or splitting order made under the Family Law Act 1975 may be satisfied, otherwise than by a split of future benefits payable in respect of an interest in a superannuation fund or under an annuity.
If the agreement or order has been satisfied in one of those alternative ways, the payment of any such future benefit would not be a splittable payment.
98(3)
In this regulation:
splittable payment
has the same meaning as in Part VIIIB of the Family Law Act 1975.
History
Reg 98 and 98A substituted for reg 98 by SLI No 326 of 2005.
Reg 98 inserted by SR No 215 of 2002.
REGULATION 98A
98A
FAMILY LAW SUPERANNUATION INTEREST SPLITS - CIRCUMSTANCES RELATING TO TRANSFERS OF AMOUNTS (ACT S 27ACA ETC)
(Repealed by SLI No 89 of 2007)
History
Reg 98A repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 98A formerly read:
REGULATION 98A FAMILY LAW SUPERANNUATION INTEREST SPLITS - CIRCUMSTANCES RELATING TO TRANSFERS OF AMOUNTS (ACT S 27ACA ETC)
98A(1)
This regulation is made for the purposes of the provisions of the Act set out in the table.
Item
|
Provision
|
1 |
subparagraph 27ACA(1)(b)(ii) |
2 |
paragraph 27ACB(1)(b) |
3 |
paragraph 27ACB(1A)(b) |
4 |
subparagraph 82AAT(1AA)(a)(ii) |
5 |
subparagraph 82AAT(1CBA)(a)(ii) |
6 |
subparagraph 140M(1C)(d)(ii) |
7 |
subparagraph 140ZN(3)(d)(ii) |
8 |
subparagraph 140ZP(3)(d)(ii) |
Note:
These provisions mention the transfer of an interest for the benefit of a non-member spouse in circumstances prescribed by regulations.
98A(2)
A circumstance is that the amount is transferred to a superannuation fund for the benefit of the non-member spouse in such a way that, because of Division 2.2 of the
Family Law (Superannuation) Regulations 2001, a payment in respect of the interest or annuity of the member spouse made after the amount is transferred, would not be a splittable payment.
Note:
Division 2.2 of the Family Law (Superannuation) Regulations 2001 sets out alternative ways in which a superannuation agreement, flag lifting agreement or splitting order made under the Family Law Act 1975 may be satisfied, otherwise than by a split of future benefits payable in respect of an interest in a superannuation fund or under an annuity.
If the agreement or order has been satisfied in one of those alternative ways, the payment of any such future benefit would not be a splittable payment.
98A(3)
In this regulation:
splittable payment
has the same meaning as in Part VIIIB of the Family Law Act 1975.
History
Reg 98 and 98A substituted for reg 98 by SLI No 326 of 2005.
REGULATION 98B
98B
SPOUSE CONTRIBUTIONS-SPLITTING AMOUNTS (ACT S 27A)
(Repealed by SLI No 89 of 2007)
History
Reg 98B repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 98B formerly read:
REGULATION 98B SPOUSE CONTRIBUTIONS-SPLITTING AMOUNTS (ACT S 27A)
9B(1)
An amount that is rolled over, transferred or allotted under Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations is a spouse contributions-splitting amount for the purpose of the definition of
contributions-splitting ETP
in subsection 27A(1) of the Act.
History
S 98B(1) amended by SLI No 187 of 2006, reg 3 and Sch 1 item 4, by inserting "spouse" before "contributions-splitting amount", effective 18 July 2006.
98B(2)
An amount is a spouse contributions-splitting amount for the definition of
contributions-splitting ETP
in subsection 27A(1) of the Act if the amount:
(a)
is:
(i)
paid into a superannuation fund from an EPSSS; or
(ii)
transferred within an EPSSS; and
(b)
would be a spouse contributions-splitting amount because of subregulation (1) if:
(i)
the EPSSS were a regulated superannuation fund; and
(ii)
the amount had been rolled over, transferred or allotted under Division 6.7 of the SIS Regulations.
History
Reg 98B(2) inserted by SLI No 187 of 2006, reg 3 and Sch 1 item 5, effective 18 July 2006.
Reg 98B inserted by SLI No 327 of 2005, reg 3 and Sch 1 item 2, effective 1 January 2006.
History
Reg 98B amended by SLI No 187 of 2006 and inserted by SLI No 327 of 2005.
REGULATION 98C
98C
ELECTION TAKEN TO HAVE BEEN MADE IN RELATION TO A QUALIFYING ETP THAT IS A CONTRIBUTIONS-SPLITTING ETP (ACT S 27D)
(Repealed by SLI No 89 of 2007)
History
Reg 98C repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 98C formerly read:
REGULATION 98C ELECTION TAKEN TO HAVE BEEN MADE IN RELATION TO A QUALIFYING ETP THAT IS A CONTRIBUTIONS-SPLITTING ETP (ACT S 27D)
98C(1)
For paragraph 27D(8)(a) of the Act, an election under subsection 27D(1) of the Act is taken to have been made by a taxpayer in relation to a qualifying ETP that is a contributions-splitting ETP if the amount is designated as a spouse contributions-splitting amount by regulation 98B.
History
Reg 98C(1) substituted by SLI No 187 of 2006, reg 3 and Sch 1 item 6, effective 18 July 2006. Reg 98C(1) formerly read:
98C(1)
For paragraph 27D(8)(a) of the Act, an election under subsection 27D(1) of the Act is taken to have been made by a taxpayer in relation to a qualifying ETP that is a contributions-splitting ETP if an amount is rolled over, transferred or allotted under Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations.
98C(2)
For paragraph 27D(8)(b) of the Act, the taxpayer is taken to have specified the following matters in an election, taken to have been made under subregulation (1), that the ETP consists only of 1 or more of the following:
(a)
subject to subregulation (4) - the taxed element of a post-June 83 component;
(b)
subject to subregulation (4) - undeducted contributions;
(c)
subject to subregulation (4) - the untaxed element of a post-June 83 component.
History
Reg 98C(2) amended by SLI No 187 of 2006, reg 3 and Sch 1 items 7 and 8, by inserting para (c), effective 18 July 2006.
98C(3)
For paragraph 27D(8)(c) of the Act, for the purpose of applying section 27D of the Act to an election taken to have been made under subregulation (1), the taxpayer mentioned in section 27D of the Act is the
applicant
(within the meaning of Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations).
98C(4)
For subregulation (2):
(a)
the amount mentioned in paragraph (2)(a) must not exceed the amount of taxed splittable contributions (within the meaning of Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations) that:
(i)
the taxpayer has applied to split under regulation 6.44 of the SIS Regulations; or
(ii)
the taxpayer has applied to split under 4.41 of the RSA Regulations; or
(iii)
the taxpayer has applied to have dealt with in a way that would result in the amount becoming a spouse contributions-splitting amount because of subregulation 98B(2); and
(b)
the amount mentioned in paragraph (2)(b) must not exceed the amount of untaxed splittable contributions (within the meaning of Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations) that:
(i)
the taxpayer has applied to split under regulation 6.44 of the SIS Regulations; or
(ii)
the taxpayer has applied to split under 4.41 of the RSA Regulations; or
(iii)
the taxpayer has applied to have dealt with in a way that would result in the amount becoming a spouse contributions-splitting amount because of subregulation 98B(2); and
(c)
the amount mentioned in paragraph (2)(c) must not exceed the amount of untaxed splittable employer contributions (within the meaning of Division 6.7 of the SIS Regulations) that:
(i)
the taxpayer has applied to split under regulation 6.44 of the SIS Regulations; or
(ii)
the taxpayer has applied to split under 4.41 of the RSA Regulations; or
(iii)
the taxpayer has applied to have dealt with in a way that would result in the amount becoming a spouse contributions-splitting amount because of subregulation 98B(2).
History
Reg 98C(4) substituted by SLI No 187 of 2006, reg 3 and Sch 1 item 9, effective 18 July 2006. Reg 98C(4) formerly read:
98C(4)
For subregulation (2):
(a)
the amount mentioned in paragraph (2)(a) must not exceed the amount of taxed splittable contributions (within the meaning of Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations) that the taxpayer has applied to split under regulation 6.44 of the SIS Regulations or regulation 4.41 of the RSA Regulations; and
(b)
the amount mentioned in paragraph (2)(b) must not exceed the amount of untaxed splittable contributions (within the meaning of Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations) that the taxpayer has applied to split under regulation 6.44 of the SIS Regulations or regulation 4.41 of the RSA Regulations.
Reg 98C inserted by SLI No 327 of 2005, reg 3 and Sch 1 item 2, effective 1 January 2006.
History
Reg 98C amended by SLI No 187 of 2006 and inserted by SLI No 327 of 2005.
REGULATION 98D
98D
CONTRIBUTIONS-SPLITTING APPLICATIONS (ACT S 82AAT)
(Repealed by SLI No 89 of 2007)
History
Reg 98D repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 98D formerly read:
SECTION 98D
REGULATION 98D CONTRIBUTIONS-SPLITTING APPLICATIONS (ACT S 82AAT)
98D
For subsections 82AAT(1BA) and (1CCA) of the Act, each of the following is designated as a
contributions-splitting application
:
(a)
an application under regulation 6.44 of the SIS Regulations;
(b)
an application under regulation 4.41 of the RSA Regulations;
(c)
an application to deal with an amount in a way that would result in the amount becoming a spouse contributions-splitting amount because of subregulation 98B(2).
History
Reg 98D substituted by SLI No 187 of 2006, reg 3 and Sch 1 item 10, effective 18 July 2006. Reg 98D formerly read:
98D
For subsections 82AAT(1BA) and (1CCA) of the Act, an application under regulation 6.44 of the SIS Regulations or regulation 4.41 of the RSA Regulations is a
contributions-splitting application
.
Reg 98D inserted by SLI No 327 of 2005, reg 3 and Sch 1 item 2, effective 1 January 2006.
FORMER REGULATION 98
98
RATES OF DEDUCTION - ETP
(Repealed by SR No 72 of 2000)
History
Reg 98 amended by SR No 14 of 1998, SR No 141 of 1997, SR No 133 and SR No 56 of 1996, SR No 202 of 1993 and SR No 390 of 1991.
Reg 98, formerly reg 54DAP, and subreg (2), (3), (4), (5), (6), (7), (8), (9) and (10), formerly subreg (1AA), (1AB), (1AC), (1AD), (1AE), (1AF), (1A), (1B) and (2), renumbered by SR No 192 of 1990.
[Note: The following history notes for the pre-1 July 1990 amendments to this Regulation reflect its former numbering.]
Reg 54DAP(1)-(1AF) substituted for reg 54DAP(1) by SR No 126 of 1990.
Reg 54DAP(1) amended by Act No 97 of 1988, SR No 325 of 1986 and SR No 278 of 1985.
Reg 54DAP amended by SR No 141 of 1989, SR No 115 of 1989, Act No 97 of 1988, SR No 141 of 1989, SR No 126 of 1990 and inserted by SR No 172 of 1984.
Subdivision 3A - Eligible termination payments (records to be kept)
History
Subdiv 3A repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007.
Subdiv 3A inserted by SR No 14 of 1998.
REGULATION 99
99
PAYER MUST GIVE TAXPAYER ETP PRE-PAYMENT STATEMENT
(Repealed by SLI No 89 of 2007)
History
Reg 99 repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99 formerly read:
REGULATION 99 PAYER MUST GIVE TAXPAYER ETP PRE-PAYMENT STATEMENT
99(1)
Before an ETP is made in respect of a taxpayer, the payer must give to the taxpayer or an agent of the taxpayer an ETP pre-payment statement.
Penalty: 5 penalty units.
History
Reg 99(1) amended by SR No 302 of 2002.
99(1A)
An offence under subregulation (1) is an offence of strict liability.
Note:
For
strict liability
, see section 6.1 of the Criminal Code.
History
Reg 99(1A) inserted by SR No 302 of 2002.
99(2)
However, the payer does not have to give the taxpayer an ETP pre-payment statement if:
(a)
the payer is:
(i)
a regulated superannuation fund or an approved deposit fund; and
(ii)
allowed, under the Superannuation Industry (Supervision) Act 1993, to transfer or roll-over the benefit without the consent of the taxpayer; or
(b)
the payer is:
(i)
a retirement savings account provider; and
(ii)
allowed, under the Retirement Savings Accounts Act 1997, to transfer or roll-over the benefit without the consent of the taxpayer; or
(c)
the payment is a death benefit; or
(d)
the payment is of a kind mentioned in paragraph (a) or (jaa) of the definition of ``eligible termination payment'' in subsection
27A(1) of the Act, and is:
(i)
not more than $5000; or
(ii)
a CGT exempt component; or
(e)
the payer has received from the taxpayer or an agent of the taxpayer authority to make the payment and payment instructions in accordance with regulation
99E.
History
Former reg 99 was omitted by SR No 14 of 1998.
REGULATION 99A
99A
CONTENTS OF ETP PRE-PAYMENT STATEMENT
(Repealed by SLI No 89 of 2007)
History
Reg 99A repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99A formerly read:
REGULATION 99A CONTENTS OF ETP PRE-PAYMENT STATEMENT
99A(1)
The payer must set out in an ETP pre-payment statement at least the following information:
(a)
the name, business address and contact telephone number of the payer;
(b)
the name, contact address last known to the payer, and date of birth (if known), of the taxpayer;
(c)
the amount, or notional amount, of the ETP that is payable to the taxpayer;
(d)
the amounts, or the notional amounts, of so much of the ETP as comprises each of the following:
(i)
the preserved benefits;
(ii)
the restricted non-preserved benefits;
(iii)
the unrestricted non-preserved benefits;
(e)
an explanation of the effect of the classification of amounts, or notional amounts, under paragraph (d) that:
(i)
are available to be taken in cash (if any);
(ii)
can be rolled-over (if any);
(iii)
must be rolled-over (if any);
(f)
the amounts, or the notional amounts, of so much of the ETP as comprises each of the following:
(i)
each component mentioned in section 27AA of the Act;
(ii)
each element mentioned in section 27AB of the Act;
(g)
the commencement date of the eligible service period;
(h)
the number of pre-July 83 days, and post-June 83 days, in the eligible service period, as calculated by the payer to the date mentioned in subregulation (3);
(i)
the amount, or notional amount, of the 15 February 1990 roll-over balance (if known);
(j)
the date in relation to which the information given under paragraphs (a) to (i) was, or is expected to be, correct;
(k)
the date when the ETP pre-payment statement is issued.
Penalty: 5 penalty units.
History
Reg 99A(1) amended by SR No 302 of 2002.
99A(1A)
An offence under subregulation (1) is an offence of strict liability.
Note:
For
strict liability
, see section 6.1 of the Criminal Code.
History
Reg 99A(1A) inserted by SR No 302 of 2002.
99A(2)
If an amount referred to in subregulation (1) is nil, the payer does not have to set out that amount in the ETP pre-payment statement.
99A(3)
For subregulation (1),
``notional amount''
means an amount calculated by the payer to a particular date and may include projected figures.
History
Reg 99 to 99MA substituted for former reg 99A by SR No 14 of 1998.
Reg 99A inserted by SR No 139 of 1995.
REGULATION 99B
99B
TAXPAYER TO GIVE PAYER INSTRUCTIONS
(Repealed by SLI No 89 of 2007)
History
Reg 99B repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99B formerly read:
REGULATION 99B TAXPAYER TO GIVE PAYER INSTRUCTIONS
99B(1)
The payer must also include in the ETP pre-payment statement given under regulation 99 a request that the taxpayer give payment instructions in accordance with regulation 99E to the payer within 30 days after the statement is issued or a shorter time reasonably required by the payer.
Penalty: 5 penalty units.
History
Reg 99B(1) amended by SR No 302 of 2002.
99B(1A)
An offence under subregulation (1) is an offence of strict liability.
Note:
For
strict liability
, see section 6.1 of the Criminal Code.
History
Reg 99B(1A) inserted by SR No 302 of 2002.
99B(2)
The ETP pre-payment statement may include a statement about how, if no instructions are received, the payer will deal with the payment.
99B(3)
For subregulation (1), a shorter time may reasonably be required if:
(a)
both:
(i)
the payment is of a kind mentioned in paragraph (a) of the definition of ``eligible termination payment'' in subsection 27A(1) of the Act; and
(ii)
an agreement, including an employment contract or award, between the payer and the taxpayer provides that a payment should be made in a shorter time; or
(b)
the payer considers it is in the taxpayer's best interests.
History
Reg 99B inserted by SR No 14 of 1998.
REGULATION 99C
99C
INSTRUCTIONS TO MAKE A PAYMENT
(Repealed by SLI No 89 of 2007)
History
Reg 99C repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99C formerly read:
REGULATION 99C INSTRUCTIONS TO MAKE A PAYMENT
99C(1)
A payer who has received payment instructions in accordance with regulation 99E must comply with those instructions.
Penalty: 5 penalty units.
History
Reg 99C(1) amended by SR No 302 of 2002.
99C(1A)
An offence under subregulation (1) is an offence of strict liability.
Note:
For
strict liability
, see section 6.1 of the Criminal Code.
History
Reg 99C(1A) inserted by SR No 302 of 2002.
99C(2)
It is a defence to a prosecution under subregulation (1) that to comply with subregulation (1) would result in a breach by the payer of:
(a)
a law of the Commonwealth, a State or a Territory; or
(b)
the terms of any agreement between the payer and the taxpayer.
Note 1:
For paragraph 99C(2)(a), the following are examples of Commonwealth laws:
(a) Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936;
(b) Part 4 of the Retirement Savings Accounts Regulations 1997;
(c) Part 6 of the Superannuation Industry (Supervision) Regulations 1924.
Note 2:
A defendant bears an evidential burden for the matters mentioned in subregulation (2) (see section 13.3 of the Criminal Code).
History
Reg 99C(2) substituted by SR No 302 of 2002.
Reg 99C inserted by SR No 14 of 1998.
REGULATION 99D
99D
PAYER TO GIVE RECEIVING FUND AN ETP ROLL-OVER STATEMENT
(Repealed by SLI No 89 of 2007)
History
Reg 99D repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99D formerly read:
REGULATION 99D PAYER TO GIVE RECEIVING FUND AN ETP ROLL-OVER STATEMENT
99D(1)
A payer must give to the receiving fund, directly or in accordance with payment instructions under regulation 99E, within 7 days after the roll-over, an ETP roll-over statement setting out at least the following information:
(a)
the relevant person's name and date of birth (if known);
(b)
the contact address of the relevant person last known to the payer;
(c)
the relevant person's tax file number, if required or permitted under subsection 299M(2) or 299N(2) of the Superannuation Industry (Supervision) Act 1993, or subsection 138(2) of the Retirement Savings Accounts Act 1997;
(d)
the name and contact telephone number of the payer;
(e)
the name and address of the receiving fund;
(f)
the amount paid to the receiving fund;
(g)
the amounts of the preserved benefits, restricted non-preserved benefits and unrestricted non-preserved benefits in the applied amount;
(h)
the commencement date of the eligible service period;
(i)
the number of pre-July 83 days and post-June 83 days in the eligible service period;
(j)
subject to regulation 99F, the amount of each tax component of the roll-over payment mentioned in subparagraph 27D(1)(b)(iii) of the Act;
(k)
the amount of the 15 February 1990 roll-over balance (if known);
(l)
whether, in accordance with regulation 99G, the applied amount relates to a pre-1 July 1994 pension or annuity;
(m)
the name, telephone number and address of the relevant person's agent, if the relevant person asks that this information be included.
Penalty: 5 penalty units.
History
Reg 99D(1) amended by SLI No 187 of 2006, reg 3 and Sch 1 items 11 and 12, by substituting "relevant person's" for "taxpayer's" in paras (a), (c) and (m) and substituting "relevant person" for "taxpayer" in paras (b) and (m), effective 18 July 2006.
Reg 99D(1) amended by SR No 302 of 2002.
99D(2)
It is a defence to a prosecution under subregulation (1) for a failure to set out an amount that the amount was nil.
Note:
A defendant bears an evidential burden for the matter mentioned in subregulation (2) (see section 13.3 of the Criminal Code).
History
Reg 99D(2) and (3) substituted for reg 99D(2) by SR No 302 of 2002.
99D(3)
An offence under subregulation (1) is an offence of strict liability.
Note:
For
strict liability
, see section 6.1 of the Criminal Code.
History
Reg 99D(2) and (3) substituted for reg 99D(2) by SR No 302 of 2002.
99D(4)
In subregulation (1):
relevant person
means:
(a)
the taxpayer; or
(b)
for a contributions-splitting ETP - the receiving spouse.
History
Reg 99D(4) inserted by SLI No 187 of 2006, reg 3 and Sch 1 item 13, effective 18 July 2006.
Reg 99D inserted by SR No 14 of 1998.
History
Reg 99D amended by SLI No 187 of 2006 and SR No 302 of 2002 and inserted by SR No 14 of 1998.
REGULATION 99E
99E
PAYMENT INSTRUCTIONS
(Repealed by SLI No 89 of 2007)
History
Reg 99E repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99E formerly read:
REGULATION 99E PAYMENT INSTRUCTIONS
99E
Payment instructions are in accordance with this regulation if they are sufficient to enable the payer to make an ETP, including, in particular, information sufficient:
(a)
to identify the amount and destination of any roll-over payment; and
(b)
to identify the amount of any cash amount; and
(c)
to identify the tax components and preservation amounts of each roll-over payment and cash amount; and
(d)
to indicate how any 15 February 1990 roll-over balance (if known) is to be distributed.
History
Reg 99E inserted by SR No 14 of 1998.
REGULATION 99F
99F
AGGREGATED AMOUNT OF PRE-JULY 83 COMPONENT AND TAXED ELEMENT OF POST-JUNE 83 COMPONENT
(Repealed by SLI No 89 of 2007)
History
Reg 99F repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99F formerly read:
REGULATION 99F AGGREGATED AMOUNT OF PRE-JULY 83 COMPONENT AND TAXED ELEMENT OF POST-JUNE 83 COMPONENT
99F
For the purposes of paragraph 99D(1)(j), the pre-July 83 component and the taxed element of the post-June 83 component may be shown as an aggregated amount.
History
Reg 99F substituted by SR No 72 of 2000 and inserted by SR No 14 of 1998.
REGULATION 99G
99G
APPLIED AMOUNT
(Repealed by SLI No 89 of 2007)
History
Reg 99G repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99G formerly read:
REGULATION 99G APPLIED AMOUNT
99G
For paragraph 99D(1)(l), an applied amount relates to a pre-1 July 1994 pension or annuity if the applied amount is a commutation ETP and the pension or annuity that gives rise to the commutation ETP:
(a)
has a commencement day before 1 July 1994; or
(b)
has 1 or more underlying commutation ETPs and, for each original underlying commutation ETP, the commencement day of the relevant pension or annuity is before 1 July 1994.
NOTE:
The circumstances in which a pension or annuity gives rise to a commutation ETP are set out in subsection 27AAAA(4) of the Act.
History
Reg 99G inserted by SR No 14 of 1998.
REGULATION 99H
99H
ETP ROLL-OVER STATEMENT TO BE GIVEN TO TAXPAYER
(Repealed by SLI No 89 of 2007)
History
Reg 99H repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99H formerly read:
REGULATION 99H ETP ROLL-OVER STATEMENT TO BE GIVEN TO TAXPAYER
99H(1)
The payer must give to the taxpayer or an agent of the taxpayer a copy of the ETP roll-over statement within 30 days after the roll-over.
Penalty: 5 penalty units.
99H(2)
An offence under subregulation (1) is an offence of strict liability.
Note:
For
strict liability
, see section 6.1 of the Criminal Code.
99H(3)
It is a defence to a prosecution under subregulation (1) that paragraph 99(2)(a) or (b) applies to the payer.
Note:
A defendant bears an evidential burden for the matter mentioned in subregulation (3) (see section 13.3 of the Criminal Code).
History
Reg 99H substituted by SR No 302 of 2002 and inserted by SR No 14 of 1998.
REGULATION 99I
99I
RECORDS TO BE KEPT
(Repealed by SLI No 89 of 2007)
History
Reg 99I repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99I formerly read:
REGULATION 99I RECORDS TO BE KEPT
99I(1)
If instructions of the kind mentioned in paragraph 99(2)(e) or regulation 99B are given, the payer and the taxpayer must each keep a copy of the instructions for 5 years from the date when the instructions were given.
Penalty: 5 penalty units.
History
Reg 99I(1) amended by SR No 302 of 2002.
99I(2)
If a payer gives an ETP roll-over statement to a receiving fund under regulation 99D, the payer and the receiving fund must each keep a copy of the statement for 5 years after the date of the roll-over.
Penalty: 5 penalty units.
History
Reg 99I(2) amended by SR No 302 of 2002.
99I(3)
An offence under subregulation (1) or (2) is an offence of strict liability.
Note:
For
strict liability
, see section 6.1 of the Criminal Code.
History
Reg 99I(3) inserted by SR No 302 of 2002.
99I(3)
(Omitted by SR No 72 of 2000)
99I(4)
(Omitted by SR No 72 of 2000)
History
Reg 99I inserted by SR No 14 of 1998.
REGULATION 99J
99J
ETP GROUP CERTIFICATE
(Omitted by SR No 72 of 2000)
History
Reg 99J inserted by SR No 14 of 1998.
REGULATION 99K
99K
CONTENTS OF ETP GROUP CERTIFICATES
(Omitted by SR No 72 of 2000)
History
Reg 99K inserted by SR No 14 of 1998.
REGULATION 99L
99L
WHO HAS AUTHORITY TO SIGN FORMS
(Repealed by SLI No 89 of 2007)
History
Reg 99L repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99L formerly read:
REGULATION 99L WHO HAS AUTHORITY TO SIGN FORMS
99L(1)
This regulation applies if:
(a)
a payer is required by this Subdivision to give a form to a person; and
(b)
the form is issued to the person.
99L(2)
The payer may authorise a person in writing, in accordance with subregulation (4), to issue the form.
99L(3)
The payer commits an offence if the form is not signed and dated on the day when it is issued to the person.
Penalty: 5 penalty units.
99L(4)
An offence under subregulation (3) is an offence of strict liability.
Note:
For
strict liability
, see section 6.1 of the Criminal Code.
99L(5)
For subregulation (2), an authorisation must:
(a)
state the date when the authorisation starts; and
(b)
be kept for 5 years from the date when the authorisation ceases to have effect.
99L(6)
If the name of the authorised person appears on the form, the form is taken to be signed by the payer unless it is proved that the form was issued without authority.
History
Reg 99L substituted by SR No 302 of 2002 and inserted by SR No 14 of 1998.
REGULATION 99M
99M
ELECTRONIC TRANSMISSION AND STORAGE OF FORMS
(Repealed by SLI No 89 of 2007)
History
Reg 99M repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 99M formerly read:
REGULATION 99M ELECTRONIC TRANSMISSION AND STORAGE OF FORMS
99M(1)
Any information that is required by this Subdivision to be given to a person may be transmitted electronically.
99M(2)
Any information that is required by this Subdivision to be kept may be kept electronically.
History
Reg 99M inserted by SR No 14 of 1998.
REGULATION 100
100
EMPLOYEE MAY QUOTE TAX FILE NUMBER
(Omitted by SR No 72 of 2000)
History
Reg 100 substituted by SR No 14 of 1998, amended by SR No 390 of 1991.
Reg 100, formerly reg 54DAR, renumbered by SR No 192 of 1990.
[Note: The following history notes for the pre-1 July 1990 amendments to this Regulation reflect its former numbering.]
Reg 54DAR(3) omitted by SR No 151 of 1990.
Reg 54DAR inserted by SR No 141 of 1989.
Subdivision 3B - Eligible termination payments (contravention notices)
History
Subdiv 3B repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007.
REGULATION 100A
100A
INTERPRETATION
(Repealed by SLI No 89 of 2007)
History
Reg 100A repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 100A formerly read:
REGULATION 100A INTERPRETATION
100A
In this Subdivision:
"officer"
means an officer of the ATO.
History
Reg 100A inserted by SR No 14 of 1998.
REGULATION 100B
100B
CONTRAVENTION NOTICE
(Repealed by SLI No 89 of 2007)
History
Reg 100B repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 100B formerly read:
REGULATION 100B CONTRAVENTION NOTICE
100B
If the Commissioner has reason to believe that a person has contravened regulation 99C or 99D, or subregulation 99(1), 99A(1), 99B(1), 99H(1), 99I(1), 99I(2) or 99L(1), the Commissioner may cause a notice (a
``contravention notice''
) to be served on the person in accordance with this Subdivision.
History
Reg 100B amended by SR No 302 of 2002 and inserted by SR No 14 of 1998.
REGULATION 100C
100C
CONTENTS OF CONTRAVENTION NOTICE
(Repealed by SLI No 89 of 2007)
History
Reg 100C repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 100C formerly read:
REGULATION 100C CONTENTS OF CONTRAVENTION NOTICE
100C(1)
A contravention notice must set out:
(a)
particulars of the alleged contravention; and
(b)
the penalty for the contravention; and
(c)
the person to whom, the place at which, and the manner in which, the penalty may be paid; and
(d)
the date of the notice and a statement that the penalty may be paid within 14 days after that date; and
(e)
any other particulars the Commissioner thinks necessary.
100C(2)
For paragraph (1)(b), the penalty for the contravention is 1 penalty unit.
History
Reg 100C(2) inserted by SR No 302 of 2002.
Reg 100C amended by SR No 302 of 2002 and inserted by SR No 14 of 1998.
REGULATION 100D
100D
NOTIFICATION THAT PERSON MAY PAY PENALTY
(Repealed by SLI No 89 of 2007)
History
Reg 100D repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5,effective 1 July 2007. Reg 100D formerly read:
REGULATION 100D NOTIFICATION THAT PERSON MAY PAY PENALTY
100D
A contravention notice must state that, if the person does not wish the matter to be dealt with by a court, the person may lodge with the Commissioner a signed statement to that effect in the manner stated in the notice and pay the penalty for the contravention.
History
Reg 100D inserted by SR No 14 of 1998.
REGULATION 100E
100E
CONTENTS OF CONTRAVENTION NOTICE - OTHER MATTERS
(Repealed by SLI No 89 of 2007)
History
Reg 100E repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 100E formerly read:
REGULATION 100E CONTENTS OF CONTRAVENTION NOTICE - OTHER MATTERS
100E
A contravention notice may contain any other matter that the Commissioner considers relevant.
History
Reg 100E inserted by SR No 14 of 1998.
REGULATION 100F
100F
PENALTY
(Repealed by SR No 302 of 2002)
History
Reg 100F inserted by SR No 14 of 1998.
REGULATION 100G
100G
NO REQUIREMENT TO SERVE CONTRAVENTION NOTICE
(Repealed by SLI No 89 of 2007)
History
Reg 100G repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 100G formerly read:
REGULATION 100G NO REQUIREMENT TO SERVE CONTRAVENTION NOTICE
100G
This Subdivision does not require the service of a contravention notice or affect the liability of a person to be prosecuted in a court for a contravention of a provision mentioned in regulation 100B for which a contravention notice has not been served.
History
Reg 100G inserted by SR No 14 of 1998.
REGULATION 100H
100H
CONSEQUENCES OF PAYMENT OF PENALTY
(Repealed by SLI No 89 of 2007)
History
Reg 100H repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 100H formerly read:
REGULATION 100H CONSEQUENCES OF PAYMENT OF PENALTY
100H
If:
(a)
a contravention notice has been served on a person; and
(b)
before the end of the period of 14 days stated in the notice or, if the Commissioner so allows, at any time before service of a summons for the contravention, the penalty is paid under the notice; and
(c)
a statement, signed by the person, to the effect that the person does not wish the matter to be dealt with by a court, is received by the person to whom the penalty is paid; and
(d)
the contravention that resulted in the service of the contravention notice has ceased;
the following provisions have effect:
(e)
any liability of the person for the contravention is taken to be discharged;
(f)
no further proceedings are to be taken for the contravention;
(g)
no conviction for the contravention is taken to have been recorded.
History
Reg 100H inserted by SR No 14 of 1998.
REGULATION 100I
100I
PAYMENT BY CHEQUE
(Repealed by SLI No 89 of 2007)
History
Reg 100I repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 100I formerly read:
REGULATION 100I PAYMENT BY CHEQUE
100I
If the penalty is paid by cheque, payment is taken not to be made unless the cheque is honoured on presentation.
History
Reg 100I inserted by SR No 14 of 1998.
REGULATION 100J
100J
OTHER PROCEEDINGS NOT AFFECTED
(Repealed by SLI No 89 of 2007)
History
Reg 100J repealed by SLI No 89 of 2007, reg 3 and Sch 1 item 5, effective 1 July 2007. Reg 100J formerly read:
REGULATION 100J OTHER PROCEEDINGS NOT AFFECTED
100J
Except as provided by regulation 100H, this Subdivision does not prejudice or affect the institution or prosecution of proceedings for a contravention of a provision mentioned in regulation 100B or limit the amount of the fine that may be imposed by a court for such a contravention.
History
Reg 100J inserted by SR No 14 of 1998.
Subdivision 4 - Home loan interest
History
Subdiv 4 omitted by SR No 72 of 2000.
Subdiv 4, formerly Subdiv AA, renumbered by SR No 192 of 1990.
Subdivision 5 - Group Employers
History
Subdiv 5 omitted by SR No 72 of 2000.
Subdiv 5, formerly Subdiv B, renumbered by SR No 192 of 1990.
Subdivision 6 - Employers other than Group Employers
History
Subdiv 6 omitted by SR No 72 of 2000.
Subdiv 6, formerly Subdiv C, renumbered by SR No 192 of 1990.
Division 3 - Notional Tax and Provisional Tax
History
Div 3 omitted by SR No 72 of 2000.
Heading to Div 3 amended by SR No 120 of 1987.
Division 4 - Collection of tax in respect of certain payments for work
History
Div 4 omitted by SR No 72 of 2000.
Div 4, formerly Div 3A, renumbered by SR No 192 of 1990. Division inserted by 1983, No 111.
Division 5 - Collection of tax in respect of certain payments
History
Div 5 omitted by SR No 72 of 2000.
Div 5, formerly Div 3B, renumbered by SR No 192 of 1990. Division inserted by Act No 97 of 1988.
Division 6 - Collection of withholding tax
History
Div 6 omitted by SR No 72 of 2000.
Div 6, formerly Div 4, renumbered by SR No 192 of 1990.
Division 7 - Collection of mining withholding tax
History
Div 7 omitted by SR No 72 of 2000.
Div 7, formerly Div 5, renumbered by SR No 192 of 1990.
Archived:
Div 8 repealed as inoperative by SLI No 216 of 2006, reg 3 and Sch 1 item 10, effective 14 September 2006. For former wording see the CCH Australian Income Tax Legislation archive.
Division 9 - Reportable Payments System
History
Div 9 omitted by SR No 72 of 2000.
Div 9 inserted by SR No 399 of 1994. For former Div 9 inserted by SR No 370 of 1993, see Div 12.
Division 10 - Reportable payments in the fishing industry
History
Div 10 omitted by SR No 72 of 2000.
Div 10 inserted by SR No 399 of 1994.
Division 11 - Reportable payments in the clothing industry
History
Div 11 omitted by SR No 72 of 2000.
Div 11 inserted by SR No 399 of 1994.
Division 11A - Reportable payments in the smash repair industry
History
Div 11A omitted by SR No 72 of 2000.
Div 11A inserted by SR No 316 of 1995.
Division 11B - Reportable payments in the fruit and vegetable industry
History
Div 11B omitted by SR No 72 of 2000.
Div 11B inserted by SR No 346 of 1996, reg 3.1, effective 1 March 1997.
Division 12 - Prompt recovery, through estimates and payment agreements, of certain amounts not remitted
History
Div 12 repealed by SLI No 3 of 2011, reg 3 and Sch 1 item 1, effective 15 February 2011.
Div 12 heading substituted by SLI No 216 of 2006, reg 3 and Sch 1 item 11, effective 14 September 2006. The heading formerly read:
Division 12 - Prompt recovery, through estimates and payment agreements, of amounts not remitted under Divisions 2, 3A, 3B and 4 of Part VI of the Act
Div 12 inserted by SR No 460 of 1994. Div 12 contains provisions of former Div 9 as inserted by SR No 370 of 1993, effective 23 December 1993.
REGULATION 147G
147G
AFFIDAVITS AND STATUTORY DECLARATIONS OF GOVERNMENT BODIES - PRESCRIBED PERSONS
(Repealed by SLI No 3 of 2011)
History
Reg 147G repealed by SLI No 3 of 2011, reg 3 and Sch 1 item 1, effective 15 February 2011. Reg 147G formerly read:
REGULATION 147G AFFIDAVITS AND STATUTORY DECLARATIONS OF GOVERNMENT BODIES - PRESCRIBED PERSONS
147G(1)
For the purposes of paragraphs 222AGF(7)(c), 222AHE(5)(c) and 222AIH(4)(c) of the Act, a prescribed person is a Paying Officer of the government body.
147G(2)
In subregulation (1),
"Paying Officer"
means an officer of the government body who, by law or by reason of holding any office in the government body, disburses, or is responsible for disbursing, moneys of the government body.
Reg 147G inserted by SR No 460 of 1994. Reg 147G contains provisions of former reg 147A as inserted by SR No 370 of 1993, effective 23 December 1993.
PART 8 - REBATE FOR LOW INCOME AGED PERSONS AND PENSIONERS AND REBATE IN RESPECT OF CERTAIN BENEFITS
History
Pt 8 heading substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 1, effective 1 July 2012. The heading formerly read:
PART 8 - REBATE FOR LOW INCOME AGED PERSONS AND IN RESPECT OF CERTAIN PENSIONS AND BENEFITS
Pt 8, formerly Pt VII, inserted and renumbered by SR No 192 of 1990.
Division 1 - General
History
Div 1 heading inserted by SR No 150 of 1996.
REGULATION 148
148
INTERPRETATION
In this Part:
illness-separated-rate social security pension
(Repealed by SLI No 91 of 2012)
History
Definition of "illness-separated-rate social security pension" repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 1, effective 1 July 2012. The definition formerly read:
illness-separated-rate social security pension
means a rebatable pension under SSA91 that is payable in the circumstances referred to in:
(a)
column 2 of item 3 in Table B in point 1064-B1 of SSA91; or
(b)
column 2 of item 3 in Table B in point 1065-B1 of SSA91;
Definition of "illness-separated-rate social security pension" amended by SLI No 136 of 2010, reg 4 and Sch 2 items 3 and 4, by substituting "Table B" for "table B" in paras (a) and (b), effective 16 June 2010.
Definition of "illness-separated-rate social security pension" inserted by SR No 148 of 1997.
Former definition of "illness-separated-rate social security pension" omitted by SR No 150 of 1996.
lowest marginal tax rate,
in relation to a year of income, means the rate that is:
(a)
the lowest rate specified in the table in Part 1 of Schedule
7 to the
Income Tax Rates Act 1986, in the application of the table to that year of income; and
(b)
expressed as a decimal fraction.
History
Definition of "lowest marginal tax rate" substituted by SLI No 136 of 2010, reg 4 and Sch 2 item 5, effective 16 June 2010. The definition formerly read:
lowest marginal tax rate
, in relation to a year of income, means the rate that is:
(a)
the lowest rate specified in the Table in Part 1 in Schedule 7 to the Income Tax Rates Act 1986, in the application of the Table to that year of income; and
(b)
expressed as a decimal fraction;
member of a couple
(Repealed by SLI No 91 of 2012)
History
Definition of "member of a couple" repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 2, effective 1 July 2012. The definition formerly read:
member of a couple
has the same meaning as in SSA91 and VEA;
partner
(Repealed by SLI No 91 of 2012)
History
Definition of "partner" repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 2, effective 1 July 2012. The definition formerly read:
partner
has the same meaning as in SSA91 and VEA;
partnered-rate social security pension
(Repealed by SLI No 91 of 2012)
History
Definition of "partnered-rate social security pension" repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 2, effective 1 July 2012. The definition formerly read:
partnered-rate social security pension
means a rebatable pension under SSA91 that is payable in the circumstances referred to in:
(a)
column 2 of item 2 of Table B at point 1064-B1 of SSA91; or
(b)
column 2 of item 2 of Table B at point 1065-B1 of SSA91;
Definition of "partnered-rate social security pension" inserted by SR No 148 of 1997.
Former definition of "partnered-rate social security pension" omitted by SR No 150 of 1996.
rebatable benefit
has the same meaning as in subsection 160AAA(1) of the Act.
History
Definition of "rebatable benefit" and "rebatable pension" substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 3, effective 1 July 2012. The definition formerly read:
rebatable benefit
and
rebatable pension
have the same meanings as in section 160AAA of the Act;
Definition of "rebatable benefit" and "rebatable pension" amended by SLI 136 of 2010, reg 4 and Sch 2 item 6, by substituting "
rebatable benefit
" for "
Rebatable benefit
", effective 16 June 2010.
single-rate social security pension
(Repealed by SLI No 91 of 2012)
History
Definition of "single-rate social security pension" repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 4, effective 1 July 2012. The definition formerly read:
single-rate social security pension
means a rebatable pension under SSA91 that is payable in the circumstances:
(a)
referred to in column 2 of item 1 in Table B in point 1064-B1 of SSA91; or
(b)
referred to in column 2 of item 1 in Table B in point 1065-B1 of SSA91; or
(c)
to which the rate at point 1066-B1 of SSA91 is applicable.
Definition of "single-rate social security pension" inserted by SR No 148 of 1997.
Former definition of "single-rate social security pension" omitted by SR No 150 of 1996.
SSA91
(Repealed by SLI No 91 of 2012)
History
Definition of "SSA91" repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 4, effective 1 July 2012. The definition formerly read:
SSA91
means the Social Security Act 1991;
tax-free threshold
, in relation to a year of income, has the meaning given by subsection 3(1) of the Income Tax Rates Act 1986.
History
Definition of "tax free threshold" substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 4, effective 1 July 2012. The definition formerly read:
tax-free threshold,
in relation to a year of income, means an amount of income equal to the lowest amount mentioned in the table in Part 1 of Schedule 7 to the Income Tax Rates Act 1986.
Definition of "tax free threshold" substituted by SLI No 136 of 2010, reg 4 and Sch 2 item 7, effective 16 June 2010. The definition formerly read:
"tax-free threshold"
, in relation to a year of income, means an amount of income equal to the lowest amount mentioned in the table in Part 1 of Schedule 7 to the Income Tax Rates Act 1986 as that table would apply to the year of income of a person if the effect of Division 5 of that Act were disregarded in relation to the person;
Definition of "tax-free threshold" substituted by SR No 148 of 1997.
VEA
(Repealed by SLI No 91 of 2012)
History
Definition of "VEA" repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 4, effective 1 July 2012. The definition formerly read:
VEA
means the Veterans' Entitlements Act 1986;
[
CCH Note:
The following definitions were omitted by SR No 150 of 1996: "18-20 at-home-rate benefit", "18-20 DRP at-home-rate benefit", "18-20 DRP independent-rate benefit", "18-20 DRP partnered-rate benefit", "18-20 independent-rate benefit", "18-20 partnered-rate benefit", "21 and over DRP single-rate benefit", "21 and over single-rate benefit", "ABSTUDY dependent partner-rate benefit", "ABSTUDY independent-rate benefit", "adult ABSTUDY partnered half-rate benefit", "adult ABSTUDY partnered parent half-rate benefit", "AUSTUDY dependent partner-rate benefit", "dependent partner-rate benefit", "DRP dependent partner-rate benefit", "DRP illness-separated rate benefit", "DRP partnered-rate benefit", "DRP rebatable benefit", "illness-separated partner-rate benefit", "illness-separated-rate benefit", "illness-separated-rate pension", "illness-separated-rate service pension", "over-60-rate benefit", "partner allowance-rate benefit", "partnered half-rate benefit", "partnered parent half-rate benefit", "partnered-rate pension", "partnered-rate service pension", "single-rate pension", "single-rate service pension", "sole-parent-rate benefit", "under-18 at-home-rate benefit", "under-18 independent-rate benefit", "under-18 partnered-rate benefit", "Veterans' Children Education Scheme", "YTA at-home-rate benefit", "YTA independent-rate benefit", "YTA partnered-parent-rate benefit", "YTA partnered-rate benefit", "YTA rebatable benefit", "YTA sole-parent-rate benefit".
The following definitions were omitted by SR No 382 of 1995: "over 21 single-rate benefit", "prescribed pension".]
REGULATION 149
AMOUNT OF REBATE OF TAX
149(1)
For sections
160AAAA and
160AAAB of the Act, the amount of an entitlement to a rebate of tax is ascertained in accordance with Division
1A of this Part.
149(2)
For section
160AAA of the Act, the amount of an entitlement to a rebate of tax is ascertained in accordance with Division
3 of this Part.
History
Reg 149(2) amended by SLI No 91 of 2012, reg 3 and Sch 1 item 5, by substituting "Division 3" for "Divisions 2 and 3", effective 1 July 2012.
History
Reg 149 substituted by SR No 148 of 1997.
Former reg 149, formerly reg 58, inserted and renumbered by SR No 192 of 1990.
REGULATION 150
150
APPLICATION OF THIS PART
(Omitted by No 148 of 1997)
History
Former reg 150, formerly reg 58AA, inserted and renumbered by SR No 192 of 1990.
Division 1A - Rebate under sections 160AAAA and 160AAAB of the Act
History
Div 1A inserted by SR No 148 of 1997.
REGULATION 150AA
150AA
DEFINITIONS
In this Division:
"equivalent circumstances income limit"
(Omitted by SR No 45 of 2002)
"rebate amount"
(Omitted by SR No 45 of 2002)
"rebate threshold"
has the meaning given by subregulations 150AB(3) and (3A);
History
Definition of "rebate threshold" amended by SLI No 167 of 2006, reg 3 and Sch 1 item 1, by substituting "subregulations 150AB(3) and (3A)" for "subregulation 150AB(3)", effective 1 July 2006.
relevant income-recipient
means the beneficiary of a trust, if the trustee in relation to the trust:
(a)
is the taxpayer; and
(b)
is liable to be assessed under section 98 of the Act in respect of the beneficiary's share of the net income of the trust estate.
History
Definition of "relevant income-recipient" substituted by No SLI 91 of 2012, reg 3 and Sch 1 item 6, effective 1 July 2012. The definition formerly read:
relevant income-recipient
means:
(a)
the taxpayer, if the taxpayer is an individual (except in the capacity of a trustee); and
(b)
the beneficiary of a trust, if the trustee in relation to the trust:
(i)
is the taxpayer; and
(ii)
is liable to be assessed under section 98 of the Act in respect of the beneficiary's share of the net income of the trust estate.
History
Reg 150AA inserted by SR No 148 of 1997.
REGULATION 150AB
ELIGIBILITY - AMOUNT OF REBATE INCOME
150AB(1)
For subsection
160AAAA(3) or
160AAAB(3) of the Act, the amount mentioned is:
rebate amount
0.125
|
+ |
taxpayer's rebate
threshold
|
History
Reg 150AB(1) substituted by SR No 45 of 2002 and amended by SR No 107 of 2001.
150AB(2)
A taxpayer's
rebate amount
for a year of income is the amount in the relevant item in the following table:
Table
Table
Item
|
Class of person
|
Rebate amount
|
1 |
Single person |
$2 230 |
2 |
Member of a couple |
$1 602 |
3 |
Member of an illness-separated couple |
$2 040 |
History
Reg 150AB(2) substituted by SR No 45 of 2002.
150AB(2A)
(Repealed by SLI No 167 of 2006)
History
Reg 150AB(2A) repealed by SLI No 167 of 2006, reg 3 and Sch 1 item 2, effective 1 July 2006. Reg 150AB(2A) formerly read:
150AB(2A)
For subregulation (2):
member of a couple
means a person (other than a member of an illness-separated couple) who, at any time in the year of income, was the spouse of another person.
member of an illness-separated couple
means a person who, at any time in the year of income:
(a)
is entitled to receive an illness-separated-rate social security pension or illness-separated-rate service pension; or
(b)
is the spouse of another person from whom the spouse is separated in circumstances in which, if the spouse was otherwise entitled to receive a partnered-rate social security pension, the spouse would be entitled to receive an illness-separated-rate social security pension.
single person
means a person who, at any time in the year of income is not the spouse of another person.
Reg 150AB(2A) substituted by SR No 45 of 2002, amended by SR No 107 of 2001, SR No 81 of 2001 and inserted by No 60 of 1999.
150AB(2B)
If, in a year of income, more than one item in the table in subregulation (2) applies to a taxpayer, the taxpayer's rebate amount is the amount that gives the taxpayer the greatest rebate entitlement.
150AB(3)
If subregulation (3A) does not apply, a taxpayer's
rebate threshold
for a year of income is the amount calculated using the formula:
where:
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section 159N of the Act.
F
is the taxpayer's rebate amount for the year of income.
Note:
The rebate amount is worked out in accordance with subregulations (2) and (2B), but may then be affected by regulation 150AE or 150AF.
C
is the lowest marginal tax rate.
Note:
For
lowest marginal tax rate
and
tax-free threshold
- see regulation 148.
History
Reg 150AB(3) amended by SLI No 174 of 2012, reg 3 and Sch 1 item 1, by substituting definition of "F", effective 1 July 2012. The definition formerly read:
F
is the taxpayer's rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).
Reg 150AB(3) and (3A) substituted for reg 150AB(3) by SLI No 167 of 2006, reg 3 and Sch 1 item 3, effective 1 July 2006. Reg 150AB(3) formerly read:
150AB(3)
For this regulation, a
rebate threshold
for a year if income is worked out using the following table:
where:
A
is the threshold at the upper conclusion of the lowest marginal tax rate.
B
is the rate that wouldbe the lowest marginal tax rate, if not for the rate mentioned in factor
C
.
C
is the lowest marginal tax rate.
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section 159N of the Act.
F
, for a person, is the rebate amount mentioned in subregulation (2).
Note:
lowest marginal tax rate
and
tax-free threshold
are defined in regulation 148.
Reg 150AB(3) substituted by SLI No 161 of 2005, reg 3 and Sch 1 item 1 (as amended by SLI No 195 of 2005, correcting a drafting error), applicable in relation to assessments of income for the income year 2005-2006 and later income years. Reg 150AB(3) formerly read:
150AB(3)
For this regulation, a
rebate threshold
for a year of income is:
where:
low income rebate amount
means the maximum amount of rebate allowable under section 159N of the Act.
History
Definition of "low income rebate amount" inserted by SR No 107 of 2001.
"rebate amount"
has the meaning given by subregulation (2).
History
Definition of "rebate amount" amended by SR No 45 of 2002 and amended by No 60 of 1999.
[Note: "lowest marginal tax rate" and "tax-free threshold" are defined in regulation 148.]
Reg 150AB(3) amended by SR No 107 of 2001.
150AB(3A)
If the taxpayer's rebate threshold, if it were calculated using the formula in subregulation (3), would be an amount that is greater than the amount at which the rebate of tax under section 159N of the Act is reduced, the taxpayer's
rebate threshold
for a year of income is the amount calculated using the formula:
(C × D) + E + F + G (H + I - C) |
H + I |
where:
C
is the lowest marginal tax rate.
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section 159N of the Act.
F
is the taxpayer's rebate amount for the year of income.
Note:
The rebate amount is worked out in accordance with subregulations (2) and (2B), but may then be affected by regulation 150AE or 150AF.
G
is the amount at which the rebate of tax under section 159N of the Act is reduced.
H
is the rate at which the rebate of tax under subsection 159N(2) of the Act is reduced, expressed as a decimal fraction.
I
is the second lowest marginal tax rate, expressed as a decimal fraction.
Note:
For
lowest marginal tax rate
and
tax-free threshold
- see regulation 148.
History
Reg 150AB(3A) amended by SLI No 174 of 2012, reg 3 and Sch 1 item 2, by substituting definition of "F", effective 1 July 2012. The definition formerly read:
F
is the taxpayer's rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).
Reg 150AB(3A) substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 7, effective 1 July 2012. Reg 150AB(3A) formerly read:
150AB(3A)
If the taxpayer's rebate threshold, if it were calculated using the formula in subregulation (3), would be an amount that is greater than the amount at which the rebate of tax under section 159N of the Act is reduced, the taxpayer's
rebate threshold
for a year of income is the amount calculated using the formula:
(C × D) + E + F + (G × 0.04) |
C + 0.04 |
where:
C
is the lowest marginal tax rate.
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section 159N of the Act.
F
is the taxpayer's rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).
G
is the amount at which the rebate of tax under section 159N of the Act is reduced.
Note
For
lowest marginal tax rate
and
tax free threshold
, see regulation 148.
Reg 150AB(3A) substituted by SLI No 136 of 2010, reg 5 and Sch 3 item 1, effective 1 July 2010. Reg 150AB(3A) formerly read:
150AB(3A)
If:
(a)
a taxpayer is a single person; and
(b)
the taxpayer's rebate threshold, if it were calculated using the formula in subregulation (3), would be an amount that is greater than the threshold at the upper conclusion of the lowest marginal tax rate;
the taxpayer's
rebate threshold
for a year of income is the amount calculated using the formula:
( |
((A × B) - C(A - D) + E + 0.04 × A + F) |
) |
0.34 |
where:
A
is the threshold at the upper conclusion of the lowest marginal tax rate.
B
is the rate that would be the lowest marginal tax rate, if not for the rate mentioned in factor
C
.
C
is the lowest marginal tax rate.
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section 159N of the Act.
F
is the taxpayer's rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).
Note:
For
lowest marginal tax rate
and
tax-free threshold
- see regulation 148.
Reg 150AB(3) and (3A) substituted for reg 150AB(3) by SLI No 167 of 2006, reg 3 and Sch 1 item 3, effective 1 July 2006.
150AB(4)
If an amount worked out under subregulation (1), (2), (3) or (3A) is not an amount of whole dollars, the amount must be rounded up to the nearest whole dollar.
History
Reg 150AB(4) amended by SLI No 167 of 2006, reg 3 and Sch 1 item 4, by substituting "subregulation (1), (2), (3) or (3A)" for "subregulation (1), (2) or (3)", effective 1 July 2006.
Reg 150AB inserted by SR No 148 of 1997.
150AB(5)
In this regulation:
illness separated couple
has the same meaning as in subsection 4(7) of the Social Security Act 1991.
member of a couple
has the same meaning as in:
(a)
the
Social Security Act 1991; or
(b)
the
Veteran's Entitlements Act 1986.
single person
means a person who, at any time in the year of income, is not the spouse of another person.
History
Reg 150AB(5) substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 8, effective 1 July 2012. Reg 150AB(5) formerly read:
150AB(5)
In this regulation:
member of a couple
means a person (other than a member of an illness-separated couple) who, at any time in the year of income, was the spouse of another person.
member of an illness-separated couple
means a person who, at any time in the year of income:
(a)
is entitled to receive an illnesss-separated-rate social security pension or illness-separated-rate service pension; or
(b)
is the spouse of another person from whom the spouse is separated in circumstances in which, if the spouse was otherwise entitled to receive a partnered-rate social security pension, the spouse would be entitled to receive an illness-separated-rate social security pension.
single person
means a person who, at any time in the year of income is not the spouse of another person.
Reg 150AB(5) inserted by SLI No 167 of 2006, reg 3 and Sch 1 item 5, effective 1 July 2006.
Reg 150AB inserted by SR No 148 of 1997.
REGULATION 150AC
150AC
EQUIVALENT CIRCUMSTANCES INCOME LIMIT
(Omitted by SR No 45 of 2002)
History
Reg 150AC inserted by SR No 148 of 1997.
REGULATION 150AD
150AD
REBATE FOR LOW INCOME AGED PERSONS AND PENSIONERS
Subject to regulations
150AE and
150AF, a taxpayer who, under section
160AAAA or
160AAAB of the Act, is eligible, in a year of income, for a rebate of tax is entitled, in respect of income, or trust income, of the year of income, to a rebate of tax amounting to:
(a)
if the relevant income-recipient's rebate income of the year of income does not exceed his or her rebate threshold - the taxpayer's rebate amount; or
(b)
if the relevant income-recipient's rebate income of the year of income exceeds his or her rebate threshold - the taxpayer's rebate amount, reduced by 12.5 cents for each $1 of the amount of the excess.
History
Reg 150AD amended by SLI No 39 of 2015, reg 4 and Sch 1 item 20, by substituting para (b) and (c) for para (a) and (b), effective 1 July 2015. Para (b) and (c) formerly read:
(a)
(Repealed by SLI No 91 of 2012)
(b)
for a year of income ending after 30 June 1997 and before 1 July 2009:
(i)
if the relevant income-recipient's taxable income of the year of income does not exceed his or her rebate threshold - the taxpayer's rebate amount; or
(ii)
if the relevant income-recipient's taxable income of the year of income exceeds his or her rebate threshold - the taxpayer's rebate amount, reduced by 12.5 cents for each $1 of the amount of the excess; and
(c)
for a later year of income:
(i)
if the relevant income-recipient's rebate income of the year of income does not exceed his or her rebate threshold - the taxpayer's rebate amount; or
(ii)
if the relevant income-recipient's rebate income of the year of income exceeds his or her rebate threshold - the taxpayer's rebate amount, reduced by 12.5 cents for each $1 of the amount of the excess.
Reg 150AD amended by SLI No 91 of 2012, reg 3 and Sch 1 item 9, by repealing para (a), effective 1 July 2012. Para (a) formerly read:
(a)
for the year of income ending on 30 June 1997:
(i)
if the relevant income-recipient's taxable income of the year of income does not exceed his or her rebate threshold - half the taxpayer's rebate amount; or
(ii)
if the relevant income-recipient's taxable income of the year of income exceeds his or her rebate threshold - half the taxpayer's rebate amount as reduced by 12.5 cents for each $1 of the amount of the excess; and
Reg 150AD amended by SLI No 156 of 2009, reg 4 and Sch 2 items 2 to 4, by substituting "for a year of income ending after 30 June 1997 and before 1 July 2009:" for "for a later year of income:" in para (b), substituting "the excess; and" for "the excess." in para (b)(ii) and inserting para (c), effective 1 July 2009.
Reg 150AD inserted by SR No 148 of 1997.
REGULATION 150AE
TRANSFER OF UNUSED REBATE FROM TAXPAYER OTHER THAN TRUSTEE
150AE(1)
Regulation
150AD is affected by subregulation (2) if, in relation to a year of income:
(a)
a taxpayer (
TP1
) is entitled to a rebate of tax under section 160AAAA of the Act; and
(aa)
a person (
TP2
) who is, at any time in that year of income, TP1's spouse, is entitled to a rebate of tax under section 160AAAA of the Act; and
(b)
TP1's rebate amount for the year of income, worked out under this regulation, exceeds the tax payable by TP1 in respect of income of that year (disregarding any credits or rebates); and
(c)
the amount of the rebate to which, apart from this subregulation, TP2 is entitled under section
160AAAA of the Act for the year of income is less than TP2's rebate amount for that year.
History
Reg 150AE(1) amended by SLI No 91 of 2012, reg 3 and Sch 1 item 11, by substituting para (a), (aa) and (b), effective 1 July 2012. Para (a), (aa) and (b) formerly read:
(a)
a taxpayer (
TP1
) is:
(i)
entitled to a rebate of tax under section 160AAAA or 160AAA of the Act; and
(ii)
the relevant income-recipient in relation to the rebate to which he or she is entitled; and
(aa)
a person (
TP2
) who is, at any time in that year of income, TP1's spouse is:
(i)
entitled to a rebate of tax under section 160AAAA of the Act; and
(ii)
the relevant income-recipient in relation to the rebate to which he or she is entitled; and
(b)
TP1's:
(i)
rebate amount for the year of income worked out under this regulation; or
(ii)
adjusted rebate amount worked out under regulation 151;
exceeds the tax payable by TP1 in respect of income of that year (disregarding any credits or rebates); and
Reg 150AE(1) amended by SR No 107 of 2001.
150AE(2)
In the circumstances mentioned in subregulation (1):
(a)
TP1's rebate amount for the year of income is the amount ascertained under subregulation
150AB(2) reduced by the amount of the excess rebate amount mentioned in paragraph (1)(b); and
(b)
TP2's rebate amount for the year of income is the amount ascertained under subregulation
150AB(2) increased by the amount of excess rebate ascertained under subregulation (11).
History
Reg 150AE(2) substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 12, effective 1 July 2012. Reg 150AE(2) formerly read:
150AE(2)
In the circumstances mentioned in subregulation (1), the rebate amount for the year of income is:
(a)
for TP1:
(i)
the amount ascertained under subregulation 150AB(2); or
(ii)
the adjusted rebate amount ascertained under subregulation 151(3);
reduced by the amount of the excess rebate amount mentioned in paragraph (1)(b); and
(b)
for TP2 - the amount ascertained under subregulation 150AB(2) increased by the amount of excess rebate amount mentioned in paragraph (1)(b).
Reg 150AE(2) amended by SR No 107 of 2001.
150AE(3)
Regulation
150AD is affected by subregulation (4) if, in relation to a year of income:
(a)
a taxpayer (
TP1
) is, under section 160AAAA of the Act, entitled to a rebate of tax; and
(b)
TP1 is, at any time in that year of income, the spouse of a person who is a relevant income-recipient in relation to a taxpayer (
TP2
) who is entitled under section
160AAAB to a rebate of tax; and
(c)
TP1's rebate amount for the year of income worked out under this regulation exceeds the tax payable by TP1 in respect of income of that year (disregarding any credits or rebates); and
(d)
the amount of the rebate to which, apart from this subregulation, TP2 is entitled under section
160AAAB for the year of income in relation to TP1's spouse is less than TP2's rebate amount for that year in relation to TP1's spouse.
History
Reg 150AE(3) amended by SLI No 91 of 2012, reg 3 and Sch 1 items 12 and 13, by substituting para (a) and (c), effective 1 July 2012. Para (a) and (c) formerly read:
(a)
a taxpayer (``
TP1
'') is:
(i)
under section 160AAAA or 160AAA of the Act - entitled to a rebate of tax; and
(ii)
in relation to the rebate to which he or she is entitled - the relevant income-recipient; and
(c)
TP1's:
(i)
rebate amount for the year of income worked out under this regulation; or
(ii)
adjusted rebate amount worked out under regulation 151;
exceeds the tax payable by TP1 in respect of income of that year (disregarding any credits or rebates); and
Reg 150AE(3) amended by SR No 107 of 2001.
150AE(4)
In the circumstances mentioned in subregulation (3), the rebate amount for the year of income is:
(a)
for TP1 - the amount ascertained under subregulation
150AB(2) or 151(3) reduced by the amount of the excess rebate amount mentioned in paragraph (3)(c); and
(b)
for TP2 - the amount ascertained under subregulation
150AB(2) increased by the amount of the excess rebate amount ascertained under subregulation (11).
History
Reg 150AE(4) amended by SLI No 91 of 2012, reg 3 and Sch 1 item 15, by substituting "ascertained under subregulation (11)" for "mentioned in paragraph (3)(c)" in para (b), effective 1 July 2012.
Reg 150AE(4) amended by SR No 107 of 2001.
150AE(5)
(Repealed by SLI No 91 of 2012)
History
Reg 150AE(5) repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 16, effective 1 July 2012. Reg 150AE(5) formerly read:
150AE(5)
For paragraphs (1)(c) and (3)(d), if the year of income concerned is the year of income ending on 30 June 1997, the amount of rebate to which TP2 is entitled is taken to be the amount mentioned in paragraph 150AD(b).
150AE(6)
(Repealed by SLI No 91 of 2012)
History
Reg 150AE(6) repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 16, effective 1 July 2012. Reg 150AE(6) formerly read:
150AE(6)
If the year of income mentioned in subregulation (1) or (3) is the year of income ending on 30 June 1997, the amount ascertained under paragraph (2)(b) or (4)(b) is limited to the amount of tax payable by TP2 in respect of income of that year.
150AE(7)
This regulation applies whether TP1 is, or is not, the same person as TP2.
150AE(8)
For this regulation, if:
(a)
TP1 received, at any time in the year of income, a pension under:
(i)
Part 2.3, 2.4 or 2.5 of the Social Security Act 1991; or
(ii)
Division 4 or 5 of Part III of the Veterans' Entitlements Act 1986; and
(b)
the pension payments were exempt payments under Subdivision
52-A or
52-B of the
Income Tax Assessment Act 1997;
the amount of TP1's assessable income of that year is to be calculated as if that pension were assessable income.
History
Reg 150AE(8) renumbered from reg 150AE(11) by SLI No 222 of 2012, reg 3 and Sch 1 item 2, by substituting "(8) For" for "(11) For", effective 15 September 2012.
Reg 150AE(8) (formerly reg 150AE(11)) inserted by SLI No 174 of 2012, reg 3 and Sch 1 item 3, effective 1 July 2012.
Former reg 150AE(8) omitted by SR No 45 of 2002.
150AE(9)
(Omitted by SR No 45 of 2002)
150AE(10)
(Repealed by SLI No 91 of 2012)
History
Reg 150AE(10) repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 16, effective 1 July 2012. Reg 150AE(10) formerly read:
150AE(10)
This regulation does not apply if TP2 was in receipt of a benefit under Part 2.11, 2.12, 2.14 or 2.15 of SSA91 on the last day of the year of income.
Reg 150AE(10) inserted by SR No 107 of 2001.
150AE(11)
In the circumstances mentioned in paragraphs (2)(b) and (4)(b), if TP1's taxable income for the year is $6 000 or less, the amount of excess rebate is the excess rebate amount mentioned in paragraph (1)(b).
History
Reg 150AE(11) inserted by SLI No 91 of 2012, reg 3 and Sch 1 item 17, effective 1 July 2012.
150AE(12)
In the circumstances mentioned in paragraphs (2)(b) and (4)(b), if TP1's taxable income for the year is greater than $6 000, and each rate of tax payable by TP1 is a rate set out in Part
I of Schedule
7 to the
Income Tax Rates Act 1986:
(a)
the amount of excess rebate is calculated using the formula:
A - ((B - $6 000) × 0.15)
where:
A
is TP1's rebate amount for the year of income, worked out under this regulation.
B
is TP1's taxable income for the year; but
(b)
if the amount calculated in paragraph (a) is less than zero, the amount of excess rebate is zero.
History
Reg 150AE(12) amended by SLI No 279 of 2013, reg 4 and Sch 1 item 1, by substituting "each rate of tax payable by TP1 is a rate set out in Part I of Schedule 7 to the Income Tax Rates Act 1986" for "TP1 is a resident of Australia", applicable in relation to assessments of income for the 2013-2014 income year and later income years.
Reg 150AE(12) amended by SLI No 128 of 2013, reg 4 and Sch 1 item 1, by inserting ", and TP1 is a resident of Australia", applicable in relation to assessments of income for the 2012-2013 income year and later income years.
Reg 150AE(12) inserted by SLI No 91 of 2012, reg 3 and Sch 1 item 17, effective 1 July 2012.
150AE(13)
In the circumstances mentioned in paragraphs (2)(b) and (4)(b), if TP1's taxable income for the year is greater than $6 000, and each rate of tax payable by TP1 is a rate set out in Part
II of Schedule
7 to the
Income Tax Rates Act 1986, the amount of excess rebate is the excess rebate amount mentioned in paragraph (1)(b).
History
Reg 150AE(13) amended by SLI No 279 of 2013, reg 4 and Sch 1 items 2 and 3, by substituting "each rate of tax payable by TP1 is a rate set out in Part II of Schedule 7 to the Income Tax Rates Act 1986" for "TP1 is a non-resident" and repealing the note at the end, applicable in relation to assessments of income for the 2013-2014 income year and later income years. The note formerly read:
Note:
Non-resident
is defined in section 6 of the Act. Division 63 of the Income Tax Assessment Act 1997 sets out the general rules about excess tax offsets.
Reg 150AE(13) inserted by SLI No 128 of 2013, reg 4 and Sch 1 item 2, applicable in relation to assessments of income for the 2012-2013 income year and later income years.
History
Reg 150AE inserted by SR No 148 of 1997.
REGULATION 150AF
TRANSFER OF UNUSED REBATE FROM TAXPAYER WHO IS TRUSTEE
150AF(1)
Regulation
150AD is affected by subregulation (2) if, in relation to a year of income:
(a)
a taxpayer (``
TP1
'') is entitled to a rebate under section
160AAAB of the Act; and
(b)
the relevant income-recipient in relation to that rebate is, at any time in that year of income, the spouse of a taxpayer (``
TP2
'') who is entitled to a rebate of tax under section
160AAAA of the Act; and
(c)
TP1's rebate amount in relation to the relevant income-recipient mentioned in paragraph (b) exceeds the tax payable by TP1 in relation to that relevant income-recipient for income of that year (disregarding any credits or rebates); and
(d)
the amount of the rebate to which, apart from this subregulation, TP2 is entitled under section
160AAAA of the Act for the year of income is less than TP2's rebate amount for that year.
150AF(2)
In the circumstances mentioned in subregulation (1), the rebate amount for the year of income is:
(a)
for TP1 - the amount ascertained under subregulation
150AB(2) reduced by the amount of the excess rebate amount mentioned in paragraph (1)(c); and
(b)
for TP2 - the amount ascertained under subregulation
150AB(2) increased by the amount of the excess rebate amount ascertained under subregulation (8) or (9).
History
S 150AF(2) amended by SLI No 91 of 2012, reg 3 and Sch 1 item 18, by substituting "ascertained under subregulation (8) or (9)" for "mentioned in paragraph (1)(c)" in para (b), effective 1 July 2012.
150AF(3)
Regulation
150AD is affected by subregulation (4) if, in relation to a year of income:
(a)
a taxpayer (``
TP1
'') is entitled to a rebate under section
160AAAB of the Act; and
(b)
the relevant income-recipient in relation to TP1 (``
RIR1
'') is, at any time in that year of income, the spouse of a person (``
RIR2
'') who is the relevant income-recipient in relation to a taxpayer (``
TP2
'') who is entitled to a rebate of tax under section
160AAAB of the Act; and
(c)
TP1's rebate amount in relation to RIR1 exceeds the tax payable by TP1 in relation to RIR1 for income of that year (disregarding any credits or rebates); and
(d)
the amount of the rebate to which, apart from this subregulation, TP2 is entitled under section
160AAAB of the Act for the year of income in relation to RIR2 is less than TP2's rebate amount for that year in relation to RIR2.
150AF(4)
In the circumstances mentioned in subregulation (3), the rebate amount for the year of income:
(a)
for TP1 - is the amount ascertained under subregulation
150AB(2) reduced by the amount of the excess rebate amount mentioned in paragraph (3)(c); and
(b)
for TP2 - is the amount ascertained under subregulation
150AB(2) increased by the amount of the excess rebate amount ascertained under subregulation (8) or (9).
History
S 150AF(4) amended by SLI No 91 of 2012, reg 3 and Sch 1 item 19, by substituting "ascertained under subregulation (8) or (9)" for "mentioned in paragraph (3)(c)" in para (b), effective 1 July 2012.
150AF(5)
(Repealed by SLI No 91 of 2012)
History
Reg 150AF(5) repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 20, effective 1 July 2012. Reg 150AF(5) formerly read:
150AF(5)
For paragraphs (1)(d) and (3)(d), if the year of income concerned is the year of income ending on 30 June 1997, the amount of rebate to which TP2 is entitled is taken to be the amount mentioned in paragraph 150AD(b).
150AF(6)
(Repealed by SLI No 91 of 2012)
History
Reg 150AF(6) repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 20, effective 1 July 2012. Reg 150AF(6) formerly read:
150AF(6)
If the year of income mentioned in subregulation (1) or (3) is the year of income ending on 30 June 1997 the amount ascertained under paragraph (2)(b) or (4)(b) is limited to the tax payable by TP2 in respect of income of that year.
150AF(7)
This regulation applies whether TP1 is, or is not, the same person as TP2.
150AF(7A)
For this regulation, if:
(a)
TP1 received, at any time in the year of income, a pension under:
(i)
Part 2.3, 2.4 or 2.5 of the Social Security Act 1991; or
(ii)
Division 4 or 5 of Part III of the Veterans' Entitlements Act 1986; and
(b)
the pension payments were exempt payments under Subdivision
52-A or
52-B of the
Income Tax Assessment Act 1997;
the amount of TP1's assessable income for that year is to be calculated as if that pension were assessable income.
History
Reg 150AF(7A) renumbered from reg 150AF(8) by SLI No 222 of 2012, reg 3 and Sch 1 item 3, by substituting "(7A) For" for "(8) For", effective 15 September 2012.
Reg 150AF(7A) (formerly reg 150AF(8)) inserted by SLI No 174 of 2012, reg 3 and Sch 1 item 4, effective 1 July 2012.
150AF(8)
In the circumstances mentioned in paragraphs (2)(b) and (4)(b), if TP1's taxable income in relation to the relevant income-recipient for the year is $6 000 or less, the amount of excess rebate is the excess rebate amount mentioned in paragraph (1)(b).
View history note
History
Reg 150AF(8) inserted by SLI No 91 of 2012, reg 3 and Sch 1 item 21, effective 1 July 2012.
Former reg 150AF(8) omitted by SR No 45 of 2002.
150AF(9)
In the circumstances mentioned in paragraphs (2)(b) and (4)(b), if TP1's taxable income in relation to the relevant income-recipient for the year is greater than $6 000, and each rate of tax payable by TP1 is a rate set out in Part
I of Schedule
7 to the
Income Tax Rates Act 1986:
(a)
the amount of excess rebate is calculated using the formula:
A - ((B - $6 000) × 0.15)
where:
A
is TP1's rebate amount for the year of income, worked out under this regulation.
B
is TP1's taxable income for the year; but
(b)
if the amount calculated in paragraph (a) is less than zero, the amount of excess rebate is zero.
History
Reg 150AF(9) amended by SLI No 279 of 2013, reg 4 and Sch 1 item 4, by substituting "each rate of tax payable by TP1 is a rate set out in Part I of Schedule 7 to the Income Tax Rates Act 1986" for "TP1 is a resident of Australia", applicable in relation to assessments of income for the 2013-2014 income year and later income years.
Reg 150AF(9) amended by SLI No 128 of 2013, reg 4 and Sch 1 item 3, by inserting ", and TP1 is a resident of Australia", applicable in relation to assessments of income for the 2012-2013 income year and later income years.
Reg 150AF(9) inserted by SLI No 91 of 2012, reg 3 and Sch 1 item 21, effective 1 July 2012.
Former reg 150AF(9) omitted by SR No 45 of 2002.
150AF(10)
In the circumstances mentioned in paragraphs (2)(b) and (4)(b), if TP1's taxable income for the year is greater than $6 000, and each rate of tax payable by TP1 is a rate set out in Part
II of Schedule
7 to the
Income Tax Rates Act 1986, the amount of excess rebate is the excess rebate amount mentioned in paragraph (1)(c).
History
Reg 150AF(10) substituted by SLI No 279 of 2013, reg 4 and Sch 1 item 5, applicable in relation to assessments of income for the 2013-2014 income year and later income years. Reg 150AF(10) formerly read:
150AF(10)
In the circumstances mentioned in paragraphs (2)(b) and (4)(b), if TP1's taxable income for the year is greater than $6 000, and TP1 is a non-resident, the amount of excess rebate is the excess rebate amount mentioned in paragraph (1)(b).
Note:
Non-resident
is defined in section 6 of the Act. Division 63 of the Income Tax Assessment Act 1997 sets out the general rules about excess tax offsets.
Reg 150AF(10) inserted by SLI No 128 of 2013, reg 4 and Sch 1 item 4, applicable in relation to assessments of income for the 2012-2013 income year and later income years.
(Division 2 - Rebate in respect of certain pensions)
History
History
Reg 151(7) amended by SLI No 136 of 2010, SR No 197 of 1997, SR No 127 of 1994, SR No 91 of 1993 and SR No 216 of 1992.
Div 2 repealed by SLI No 91 of 2012, reg 3 and Sch 1 item 22, effective 1 July 2012. Div 2 formerly read:
Division 2 - Rebate in respect of certain pensions
REGULATION 150A DEFINITIONS
150A
In this Division:
"illness-separated-rate pension"
means a pension that is an illness-separated-rate service pension or an illness-separated-rate social security pension;
"illness-separated-rate service pension"
means a rebatable pension under VEA that is payable in the circumstances referred to in column 2 of item 1 in Table B at point SCH6-B1 of VEA.
History
Definition of "illness-separated-rate service pension" amended by SLI No 136 of 2010, reg 4 and Sch 2 item 8, by substituting "column 2 of item 1 in Table B at point SCH6-B1 of VEA." for "column 2 of item 4 in table B at point 41 B1 or 43 B1 of VEA.", effective 16 June 2010.
"illness-separated-rate social security pension"
(Omitted by SR No 148 of 1997)
"partnered-rate pension"
means a pension that is a partnered-rate service pension or a partnered-rate social security pension;
"partnered-rate service pension"
means a rebatable pension under VEA that is payable in the circumstances referred to in column 2 of item 2 in Table B at point SCH6-B1 of VEA.
History
Definition of "partnered-rate service pension" amended by SLI No 136 of 2010, reg 4 and Sch 2 item 9, by substituting "column 2 of item 2 in Table B at point SCH6-B1 of VEA." for "column 2 of item 3 in Table B at point 41 B1 or 43 B1 of VEA.", effective 16 June 2010.
"partnered-rate social security pension"
(Omitted by SR No 148 of 1997)
"single-rate pension"
means a pension that is a single-rate service pension or a single-rate social security pension;
"single-rate service pension"
means a rebatable pension under VEA that is payable in the circumstances referred to in column 2 of item 1 in Table B at point SCH6-B1 of VEA.
History
Definition of "single-rate service pension" amended by SLI No 136 of 2010, reg 4 and Sch 2 item 10, by substituting "column 2 of item 1 in Table B at point SCH6-B1 of VEA." for "column 2 of item 1 in Table B at point 41 B1 or 43 B1 of VEA.", effective 16 June 2010.
"single-rate social security pension"
(Omitted by SR No 148 of 1997)
History
Reg 150A inserted by SR No 150 of 1996.
REGULATION 151 REBATE FOR SECTION 160AAA OF THE ACT
151(1)
Where the assessable income of a taxpayer of a year of income includes an amount paid as rebatable pension, the taxpayer is entitled in his or her assessment in respect of income of the year of income to a rebate of tax of:
(a)
if the rebate income of the taxpayer of the year of income does not exceed his or her rebate threshold - the taxpayer's rebate amount; or
(b)
if the rebate income of the taxpayer of the year of income exceeds his or her rebate threshold - the taxpayer's rebate amount, reduced by 12.5 cents for each $1 of the amount of the excess.
History
Reg 151(1) amended by SLI No 156 of 2009, reg 4 and Sch 2 items 5 and 6, by substituting "rebate income" for "taxable income" in paras (a) and (b), effective 1 July 2009.
151(2)
For the purposes of this regulation, the taxpayer's rebate threshold for a year of income is calculated using the formula:
Tax-free threshold
|
+ |
Taxpayer's rebate amount
|
Lowest marginal tax rate
|
where:
"Tax-free threshold"
has the meaning given by regulation 148;
"Taxpayer's rebate amount"
has the meaning given by subregulations (3) and (3A);
History
Definition of "Taxpayer's rebate amount" amended by No 60 of 1999.
"Lowest marginal tax rate"
has the meaning given by regulation 148;
or, if the amount calculated using the formula is not an amount of whole dollars, that amount rounded up to the nearest whole dollar.
151(3)
Subject to subregulation (5), for the purposes of this regulation, the taxpayer's rebate amount for a year of income is calculated using the formula:
where:
"Lowest marginal tax rate"
has the meaning given by regulation 148;
"Annual pension amount"
has the meaning given by subregulation (4);
"Non-pension income limit"
has the meaning given by subregulation (4);
"Tax-free threshold"
has the meaning given by regulation 148;
or, if the amount calculated using the formula is not an amount of whole dollars, that amount rounded up to the nearest whole dollar.
151(3A)
[Taxpayer's rebate amount from 2000/01 income year]
Subject to subregulation (5), for the purposes of this regulation, the
Taxpayer's rebate amount
for the 2000-2001 year of income or a later year of income is increased:
(a)
by $415 if the taxpayer has received a single-rate pension; or
(aa)
by $331 if the taxpayer has received an illness-separated-rate pension; or
(b)
by $304 in any other case.
History
Reg 151(3A) amended by SR No 81 of 2001 and inserted by No 60 of 1999.
151(4)
For the purposes of the application of this regulation in determining the rebate to which a taxpayer is entitled under subregulation (1) in relation to a year of income:
(a)
where the taxpayer has received a partnered-rate pension - a reference in this regulation to the annual pension amount is, subject to subregulation (4A), a reference to whichever of the following amounts is the greater:
(i)
the amount that would have been included in his or her assessable income of the year of income if he or she had received a partnered-rate service pension throughout that year;
(ii)
the amount that would have been included in his or her assessable income of the year of income if he or she had received a partnered-rate social security pension throughout that year; and
(b)
where the taxpayer has received an illness-separated-rate pension - a reference in this regulation to the annual pension amount is, subject to subregulation (4A), a reference to whichever of the following amounts is the greater:
(i)
the amount that would have been included in his or her assessable income of the year of income if he or she had received an illness-separated-rate service pension throughout that year;
(ii)
the amount that would have been included in his or her assessable income of the year of income if he or she had received an illness-separated-rate social security pension throughout that year; and
(c)
where the taxpayer has received a single-rate pension - a reference in this regulation to the annual pension amount is, subject to subregulation (4A), a reference to whichever of the following amounts is the greater:
(i)
the amount that would have been included in his or her assessable income of the year of income if he or she had received a single-rate service pension throughout that year;
(ii)
the amount that would have been included in his or her assessable income of the year of income if he or she had received a single-rate social security pension throughout that year; and
(d)
a reference in this regulation to whichever of the amounts referred to in paragraph (a), (b) or (c) is:
(i)
in accordance with this regulation, the annual pension amount; and
(ii)
an amount of dollars and cents;
is a reference to that amount rounded down to the nearest whole dollar; and
(e)
a reference in this regulation to the non-pension income limit is a reference to whichever of the following amounts is applicable:
(i)
if the annual pension amount in relation to the taxpayer for the year of income is referred to in subparagraph (a)(i) or (b)(i) or paragraph (4A)(a) or (c) - the amount, indexed in accordance with Subdivision B of Division 18 in Part IIIB of VEA, applicable under item 3 in Table E-1 at point SCH6-E6 of that Act;
(ii)
if the annual pension amount in relation to the taxpayer for the year of income is referred to in subparagraph (a)(ii) or (b)(ii) or paragraph (4A)(b) or (d) - the amount, indexed in accordance with Division 2 of Part 3.16 of SSA91, applicable under item 4 of column 2 in Table E-1 at point 1064-E4 of SSA91;
(iii)
if the annual pension amount in relation to the taxpayer for the year of income is referred to in subparagraph (c)(i) or paragraph (4A)(e):
(A)
in the case of the year of income commencing on 1 July 1989 - $1,300; or
(B)
in the case of a subsequent year of income - the amount, indexed in accordance with Subdivision B of Division 18 in Part IIIB of VEA, applicable under item 1 in Table E-1 at point SCH6-E6 of that Act; and
(iv)
if the annual pension amount in relation to the taxpayer for the year of income is referred to in subparagraph (c)(ii) or paragraph (4A)(f):
(A)
in the case of the year of income commencing on 1 July 1989 - $1,300; or
(B)
in the case of a subsequent year of income - the amount, indexed in accordance with Division 2 of Part 3.16 of SSA91, applicable under item 1 of column 2 in Table E-1 at point 1064-E4 of SSA91;
(f)
a reference in this regulation to the partner of a taxpayer is a reference to whichever of the following persons is applicable:
(i)
where the assessable income of the taxpayer of the year of income includes an amount paid as a partnered-rate service pension or a separated-rate service pension:
(A)
if, on the last day of the year of income, a person was the partner, within the meaning of Part I of VEA, of the taxpayer - that person; or
(B)
if sub-subparagraph (A) does not apply but, in the year of income, the death occurred of the last person who was the partner, within the meaning of Part I of VEA, of the taxpayer - that person;
(ii)
where the assessable income of the taxpayer of the year of income includes an amount paid as a partnered-rate social security pension or a separated-rate social security pension:
(A)
if, on the last day of that year, a person was the partner, within the meaning of the SSA91, of the taxpayer - that person; or
(B)
if sub-subparagraph (A) does not apply but, in the year of income, the death occurred of the last person who was the partner, within the meaning of the SSA91, of the taxpayer - that person; and
(g)
a reference in this regulation to the taxpayer's adjusted rebate amount is a reference to the amount that would have been the taxpayer's rebate amount if the reference in subregulation (3) to the annual pension amount were a reference to the adjusted annual pension amount; and
(h)
subject to subregulation (7), a reference in this regulation to the adjusted annual pension amount is a reference to:
(i)
if the assessable income of the taxpayer of the year of income includes an amount paid as an illness-separated-rate pension - the amount determined in accordance with paragraph (b); and
(ii)
in any other case, if the assessable income of the taxpayer of the year of income includes an amount paid as a partnered-rate pension - the amount determined in accordance with paragraph (a).
History
Reg 151(4) amended by SLI No 136 of 2010, reg 4 and Sch 2 items 11 to 18, by substituting "an illness-separated-rate" for "a illness-separated rate" in paras (b), (b)(i), (b)(ii) and (h)(i), substituting "the amount, indexed in accordance with Subdivision B of Division 18 in Part IIIB of VEA, applicable under item 3 in Table E-1 at point SCH6-E6 of that Act;" for "the amount, indexed in accordance with Division 21 in Part III of VEA, applicable under item 4 in Table D1 at point 41 D4;" in para (e)(i), substituting "the amount, indexed in accordance with Subdivision B of Division 18 in Part IIIB of VEA, applicable under item 1 in Table E-1 at point SCH6-E6 of that Act" for "the amount, indexed in accordance with Division 21 in Part III of VEA, applicable under item 1 in table D 1 at point 41 D4 of that Act" in para (e)(iii)(B), and substituting "within the meaning of Part I of VEA," for "within the meaning of Part III of the Veterans' Entitlements Act 1986," in paras (f)(i)(A) and (f)(i)(B), effective 16 June 2010.
Reg 151(4) amended by SR No 127 of 1994 and SR No 216 of 1992.
151(4A)
Annual pension amount - unequal numbers of pension paydays under SSA91 and VEA in the year.
In this regulation,
"annual pension amount"
, in relation to a taxpayer in a year of income in which there are different numbers of pension paydays under SSA91 and VEA and in which the taxpayer has received:
(a)
a partnered-rate service pension; or
(b)
a partnered-rate social security pension; or
(c)
an illness-separated-rate service pension; or
(d)
an illness-separated-rate social security pension; or
(e)
a single-rate service pension; or
(f)
a single-rate social security pension;
means the amount that would have been included in his or her assessable income for that year of income if he or she had received that pension throughout that year of income.
History
Reg 151(4A) inserted by SR No 127 of 1994.
151(5)
Subject to subregulation (6), for the purposes of this regulation, if the assessable income of a taxpayer of a year of income includes amounts paid as more than one kind of pension referred to in paragraph (4)(a), (b) or (c), then the taxpayer's rebate amount for the year is the greatest amount calculated in accordance with subregulations (3) and (3A).
History
Reg 151(5) amended by SLI No 136 of 2010, reg 4 and Sch 2 item 19, by substituting "one kind" for "1 kind", effective 16 June 2010.
Reg 151(5) amended by No 60 of 1999.
151(6)
For the purposes of this regulation, if:
(a)
subject to subregulation (7), the assessable income is the assessable income of a taxpayer (in this subregulation and subregulation (7) called the
first taxpayer
) who is, at any time of the year of income, entitled to rebate of tax under section 160AAAA or 160AAA of the Act; and
(b)
the assessable income of another taxpayer, being the partner of the first taxpayer (in this subregulation called the
second taxpayer
) of the year of income includes an amount paid as a partnered-rate pension or a separated-rate pension; and
(c)
the amount of the rebate to which the second taxpayer is, apart from this subregulation, entitled under subregulation (1) in relation to the year of income is less than the second taxpayer's rebate amount for that year; and
(d)
subject to subregulation (7), the first taxpayer's adjusted rebate amount, or rebate amount under regulation 150AB, for the year of income exceeds the tax payable by the first taxpayer in respect of income of that year (disregarding any credits or rebates); and
(e)
the second taxpayer was not in receipt of a benefit under Parts 2.11, 2.12, 2.14 or 2.15 of SSA91 on the last day of the year of income;
the following provisions have effect:
(f)
in determining the rebate to which the first taxpayer is entitled under subregulation (1) or regulation 150AB for the year of income, the first taxpayer's rebate amount is to be reduced by the amount of the excess referred to in paragraph (d);
(g)
in determining the rebate to which the second taxpayer is entitled under subregulation (1) for the year of income, the second taxpayer's rebate amount for the year of income, not being a rebate amount determined by reference to a single-rate pension, is to be increased by the amount of the excess referred to in paragraph (d).
History
Reg 151(6) amended by SR No 107 of 2001 and SR No 216 of 1992.
151(7)
For the purposes of subregulation (6), if:
(a)
the first taxpayer received at any time in the year of income a pension under Part 2.3, 2.4, 2.5 or 2.12A of SSA91 or Divisions 4 or 5 of Part III of VEA; and
(b)
the pension payments were exempt payments under Subdivision 52-A or 52-B of the Income Tax Assessment Act 1997;
the amount of the assessable income of that year of the first taxpayer is to be calculated as if that pension were assessable income.
History
Reg 151(7) amended by SLI No 136 of 2010, reg 4 and Sch 2 item 20, by substituting "Divisions 4 or 5 of Part III of VEA; and" for "Divisions 4, 5 and 6 of Part III of the Veterans' Entitlements Act 1986; and" in para (a), effective 16 June 2010.
Reg 151(7) amended by SR No 197 of 1997, SR No 127 of 1994, SR No 91 of 1993 and SR No 216 of 1992.
151(8)
This Regulation applies whether the first taxpayer is, or is not, the same person as the second taxpayer.
History
Reg 151(8) inserted by SR No 107 of 2001.
Reg 151, formerly reg 58AB, inserted and renumbered by SR No 192 of 1990.
Div 2 heading inserted by SR No 150 of 1996.
Division 3 - Rebate under section 160AAA of the Act
History
Div 3 heading substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 23, effective 1 July 2012. The heading formerly read:
Division 3 - Rebate in respect of certain benefits
Div 3 heading inserted by SR No 150 of 1996.
REGULATION 152
REBATE OF TAX IN RESPECT OF REBATABLE BENEFITS
152(1)
If the assessable income of a taxpayer of a year of income includes an amount of rebatable benefit, the taxpayer is entitled in the taxpayer's assessment in respect of income of that year of income to a rebate of tax of the amount calculated using the formula in subregulation (2) or (3).
History
Reg 152(1) amended by SLI No 39 of 2015, reg 4 and Sch 1 item 21, by omitting "commencing on or after 1 July 2003" after "taxpayer of a year of income", effective 1 July 2015.
152(2)
If the taxpayer's benefit amount is less than or equal to the threshold at the upper conclusion of the lowest marginal tax rate, the formula is:
0.15 × [A - 6 000]
where:
A
is the taxpayer's benefit amount, being the amount of rebatable benefit received by the taxpayer during the year of income, rounded down to the nearest whole dollar.
Note:
For
lowest marginal tax rate
and
tax-free threshold
- see regulation 148.
History
Reg 152(2) substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 24, effective 1 July 2012. Reg 152(2) formerly read:
152(2)
If the taxpayer's benefit amount is less than or equal to the threshold at the upper conclusion of the lowest marginal tax rate, the formula is:
where:
A
is the lowest marginal tax rate.
B
is the taxpayer's benefit amount, being the amount of rebatable benefit received by the taxpayer during the year of income, rounded down to the nearest whole dollar.
C
is the tax-free threshold.
Note:
For
lowest marginal tax rate
and
tax-free threshold
- see regulation 148.
152(3)
If the taxpayer's benefit amount is greater than the threshold at the upper conclusion of the lowest marginal tax rate, the formula is:
0.15 × [A - 6 000] + 0.15 × [A - B]
where:
A
is the taxpayer's benefit amount, being the amount of rebatable benefit received by the taxpayer during the year of income, rounded down to the nearest whole dollar.
B
is the threshold at the upper conclusion of the lowest marginal tax rate.
Note:
For
lowest marginal tax rate
and
tax-free threshold
- see regulation 148.
History
S 152(3) substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 24, effective 1 July 2012. Reg 152(3) formerly read:
152(3)
If the taxpayer's benefit amount is greater than the threshold at the upper conclusion of the lowest marginal tax rate, the formula is:
A
× [
B
-
C
] +
D
× [
B
-
E
] |
where:
A
is the lowest marginal tax rate.
B
is the taxpayer's benefit amount, being the amount of rebatable benefit received by the taxpayer during the year of income, rounded down to the nearest whole dollar.
C
is the tax-free threshold.
D
is the rate that is calculated by subtracting the lowest marginal tax rate from the rate that is the second lowest marginal tax rate (expressed as a decimal fraction).
E
is the threshold at the upper conclusion of the lowest marginal tax rate.
Note:
For
lowest marginal tax rate
and
tax-free threshold
- see regulation 148.
152(4)
If the amount worked out under subregulation (2) or (3) is not an amount of whole dollars, the amount must be rounded up to the nearest whole dollar.
History
Reg 152 substituted by SLI No 167 of 2006, reg 3 and Sch 1 item 6, effective 1 July 2006. Reg 152 formerly read:
REGULATION 152 REBATE OF TAX IN RESPECT OF REBATABLE BENEFITS
152(1)
If the assessable income of a taxpayer of a year of income commencing on or after 1 July 2003 includes an amount of rebatable benefit, the taxpayer is entitled in the taxpayer's assessment in respect of income of that year of income to a rebate of tax of the amount calculated using the formula:
(a)
if the taxpayer's benefit amount is not more than $21 600:
or
(b)
if the taxpayer's benefit amount is more than $21 600:
A × [B - C] + 0.15 × [B - $21 600]; |
where:
A
is the lowest marginal tax rate.
B
is the taxpayer's benefit amount, being the amount of rebatable benefit received by the taxpayer during the year of income, rounded down to the nearest whole dollar.
C
is the tax-free threshold.
Note:
lowest marginal tax rate
and
tax-free threshold
are defined in regulation 148.
History
Reg 152(1)(b) amended by SLI No 161 of 2005, reg 3 and Sch 1 item 2, by substituting "0.15" for "0.13" in the formula, applicable in relation to assessments of income for the income year 2005-2006 and later income years.
Reg 152(1) amended by SR No 262 of 2003, SR No 90 of 2000; amended and renumbered by SR No 148 of 1997.
152(2)
If an amount worked out under subregulation (1) is not an amount of whole dollars, the amount must be rounded up to the nearest whole dollar.
Reg 152 amended by SR No 148 of 1997, substituted by SR No 345 of 1996 and amended by SR No 216 of 1992.
PART 8A - FOREIGN INCOME
History
Pt 8A, comprising reg 152A-152K, inserted by SR No 20 of 1991.
Division 1 - General
History
Div 1 inserted by SR No 115 of 2004.
REGULATION 152A
INTERPRETATION
152A(1)
In this Part, unless the contrary intention appears, words and phrases have the same meanings as they have in Part
X of the Act.
152A(2)
In this Part, unless the contrary intention appears:
CGT asset
has the meaning given by section 108-5 of the Income Tax Assessment Act 1997.
History
Definition of "CGT asset" substituted for definition of "asset" by SR No 115 of 2004.
"compulsory acquisition"
, in relation to a CGT asset, means the compulsory acquisition of that asset by:
(a)
the government of a country, whether a federal, State or municipal government (however described); or
(b)
an authority of such a government.
History
Definition of "compulsory acquisition" amended by SR No 115 of 2004.
"concessional rate of tax"
(Repealed by SR No 115 of 2004)
"interest income"
(Repealed by SR No 115 of 2004)
"normal company tax rate"
(Repealed by SR No 115 of 2004)
History
Definition of "normal company tax rate" substituted by SR No 368 of 1997.
"offshore banking business"
(Repealed by SR No 115 of 2004)
"offshore financial business"
(Repealed by SR No 115 of 2004)
"offshore income"
(Repealed by SR No 115 of 2004)
"offshore insurance business"
(Repealed by SR No 115 of 2004)
"offshore investment business"
(Repealed by SR No 115 of 2004)
"offshore reinsurance business"
(Repealed by SR No 115 of 2004)
"permanent establishment"
, in relation to an entity that carries on business in a listed country:
(a)
if there is a double tax agreement in relation to the country and section
23AH of the Act applies to the entity - has the same meaning as in the agreement; or
(b)
in any other case - has the meaning given by subsection
6(1) of the Act;
History
Definition of "permanent establishment" amended by SR No 248 of 2004.
"relevant broad-exemption listed country"
(Repealed by SR No 115 of 2004)
History
Definition of "wholly-owned group" substituted for definitions of "relevant broad-exemption listed country", "relevant period", "relevant tax accounting period" and "shipping income" by SR No 115 of 2004.
"relevant period"
(Repealed by SR No 115 of 2004)
History
Definition of "wholly-owned group" substituted for definitions of "relevant broad-exemption listed country", "relevant period", "relevant tax accounting period" and "shipping income" by SR No 115 of 2004.
"relevant tax accounting period"
(Repealed by SR No 115 of 2004)
History
Definition of "wholly-owned group" substituted for definitions of "relevant broad-exemption listed country", "relevant period", "relevant tax accounting period" and "shipping income" by SR No 115 of 2004.
"shipping income"
(Repealed by SR No 115 of 2004)
History
Definition of "wholly-owned group" substituted for definitions of "relevant broad-exemption listed country", "relevant period", "relevant tax accounting period" and "shipping income" by SR No 115 of 2004.
wholly-owned group
has the meaning given by section 975-500 of the Income Tax Assessment Act 1997.
History
Definition of "wholly-owned group" substituted for definitions of "relevant broad-exemption listed country", "relevant period", "relevant tax accounting period" and "shipping income" by SR No 115 of 2004.
152A(3)
In this Part (other than in regulation
152D):
capital gains
means gains or profits of a capital nature that arise from the sale ordisposal of all or part of a CGT asset, other than gains or profits that would not be capital gains but for a provision of Australian tax law.
History
Reg 152A(3) and (4) substituted by SR No 115 of 2004.
152A(4)
In this Part:
passive income
means passive income described in section 446 of the Act, subject to the following modifications:
(a)
omit paragraph
446(1)(k) and insert the following paragraph:
'(k)
capital gains in respect of tainted assets;';
(b)
if it is necessary to identify the designated concession income of an entity to which Division
6AAA of Part
III of the Act applies, as part of using Schedule
9:
(i)
read each reference, as appropriate, in Part X to a company as a reference to the entity; and
(ii)
read each reference, as appropriate, in Part X to a statutory accounting period as a reference to a year of income;
(c)
if it is necessary to identify the designated concession income of an entity to which section
23AH of Part
III of the Act applies, as part of using Schedule
9, read each reference, as appropriate, in Part
X to a statutory accounting period as a reference to a year of income.
History
Reg 152A(3) and (4) substituted by SR No 115 of 2004.
Reg 152A amended by SR No 368 of 1997 and inserted by SR No 20 of 1991.
Division 2 - Controlled foreign companies
History
Div 2 heading inserted by SR No 115 of 2004.
REGULATION 152B
INCOME OR PROFITS AS DESIGNATED CONCESSION INCOME
152B(1)
[Interpretation]
For the definition of
designated concession income
in section 317 of the Act, if:
(a)
a listed country is mentioned in column 2 of an item in Part 2 of Schedule
9; and
(b)
an entity mentioned in column 3 of the item derived income or profits that are:
(i)
of a kind specified in column 4 of the item; and
(ii)
further described in column 5 of the item;
the income or profits are designated concession income.
152B(2)
["income or profits"]
For subregulation (1), the income or profits of an entity include:
(a)
the entity's interest in the income or profits of a partnership in which the entity is a partner; and
(b)
the entity's beneficial interest in the income or profits of a trust estate in which the entity is a beneficiary.
History
Regs 152B, 152C, 152D and 152E substituted for reg 152B to 152H by SR No 115 of 2004.
Reg 152B amended by SR No 368 of 1997 and inserted by SR No 20 of 1991.
REGULATION 152C
152C
LISTED COUNTRIES
For the definition of
listed country
in subsection
320(1) of the Act, a foreign country or a part of a foreign country listed in Schedule
10 is declared to be a listed country for the purposes of Part
X of the Act.
History
Reg 152C(1) amended by SLI No 39 of 2015, reg 4 and Sch 1 items 23 and 24, by omitting "(1)" before "For the definition" and "Part 1 of" before "Schedule 10", effective 1 July 2015.
152C(2)
(Repealed by SLI No 39 of 2015)
History
Reg 152C(2) repealed by SLI No 39 of 2015, reg 4 and Sch 1 item 25, effective 1 July 2015. Reg 152C(2) formerly read:
152C(2)
For the definition of
section 404 country
in subsection 320(1) of the Act, a foreign country or a part of a foreign country listed in Part 2 of Schedule 10 is declared to be a section 404 country for the purposes of Part X of the Act.
History
S 152C substituted by SR No 248 of 2004.
Regs 152B, 152C, 152D and 152E substituted for reg 152B to 152H by SR No 115 of 2004, reg 3 and Sch 1 item 8, effective 1 July 2004. For transitional provision, see note under Div 1 heading. Reg 152C formerly read:
REGULATION 152C WHEN ARE INCOME OR PROFITS SUBJECT TO A REDUCTION OF TAX?
152C(1)
Subject to subregulation (2), in this Part, income or profits of a kind specified in subregulation 152D(1) derived by an entity in a relevant period are regarded as being
'subject to a reduction of tax'
in a broad-exemption listed country in a particular tax accounting period if:
(a)
a law of that country; or
(b)
a decree, proclamation, instrument or direction (however described) issued by a competent authority in that country; or
(c)
an administrative arrangement in that country;
provides, or has the effect, that the income or profits are, in the tax accounting period;
(d)
exempt from tax under a tax law of the broad-exemption listed country; or
(e)
subject to a concessional rate of tax; or
(f)
not required to be used as the basis for:
(i)
determining the amount of taxable income, taxable profits or tax base, as the case may be; or
(ii)
establishing the tax liability;
of the entity under a tax law of the broad-exemption listed country; or
(g)
subject to subregulations (3) and (3A), reduced for the purposes of:
(i)
determining the amount of taxable income, taxable profits or tax base, as the case may be; or
(ii)
establishing the tax liability;
of the entity under a tax law of the broad-exemption listed country; or
(h)
subject to any other form of tax benefit that reduces the amount of tax that would otherwise be payable by the entity under a tax law of the broad-exemption listed country.
History
Reg 152C(1) amended by SR No 38 of 1992.
152C(2)
Income or profits derived by an entity in a relevant period are not to be regarded as subject to a reduction of tax in any tax accounting period if the income or profits are not subject to a reduction of tax in any of the relevant tax accounting periods that relate to the relevant period.
152C(3)
Paragraph (1)(g) does not apply to the reduction under the tax law of the broad-exemption listed country of income or profits derived by an entity referred to in subregulation 152C(1) to the extent that the tax law permits the deduction, from the income or profits, of losses or outgoings:
(a)
incurred during the relevant period by the entity in deriving any income or profits; or
(b)
incurred before the relevant period by the entity in deriving any income or profits if the losses or outgoings have not been allowed under that tax law as a deduction from any income or profits derived by the entity.
History
Reg 152C(3) amended by SR No 412 of 1994.
Reg 152C(3), (3A), (3B), (3C), (3D) and (3E) substituted for reg 152C(3) by SR No 38 of 1992.
152C(3A)
Subject to subregulation (3C), paragraph 152C(1)(g) does not apply to the reduction, under the tax law of a broad-exemption listed country, of income or profits derived by an entity referred to in subregulation 152C(1), to the extent that the tax law permits the deduction, from the relevant income or profits, of losses or outgoings incurred, in deriving any income or profits, by a company other than the entity (in this regulation called `the loss company') if, during the period stated in subregulation (3B):
(a)
the entity is:
(i)
a CFC in relation to an Australian entity; and
(ii)
a resident, within the meaning of section 332 of the Act, ofthe broad-exemption listed country; or
(b)
the entity is a company, resident in Australia, that carries on a business in the broad-exemption listed country at or through a permanent establishment in the broad-exemption listed country.
History
Reg 152C(3A) substituted by SR No 412 of 1994.
Reg 152C(3), (3A), (3B), (3C), (3D) and (3E) substituted for reg 152C(3) by SR No 38 of 1992.
152C(3B)
The period referred to in subregulation (3A) is the period that:
(a)
starts on the first day of the relevant period during which the losses or outgoings are transferred to the entity by the loss company; and
(b)
ends at the end of the last day of the relevant period (whether or not it is the period mentioned in paragraph (a)) during which the losses or outgoings are deducted from the income or profits derived by the entity.
History
Reg 152C(3), (3A), (3B), (3C), (3D) and (3E) substituted for reg 152C(3) by SR No 38 of 1992.
152C(3C)
Subregulation (3A) applies only if:
(a)
at all times during the loss period (as defined in subregulation (7)), the loss company is either:
(i)
a resident, within the meaning of section 332 of the Act, of the broad-exemption listed country, and a CFC in relation to either:
(A)
if the entity in subregulation (3A) is a CFC - the Australian entity referred to in paragraph (3A)(a); or
(B)
in any other case - the entity referred to in paragraph (3A)(b); or
(ii)
a company resident in Australia that carries on a business in the broad-exemption listed country at or through a permanent establishment in the broad-exemption listed country; and
(b)
the loss company is a group company (within the rules stated in subregulation (3D)) in relation to the entity referred to in subregulation (3A) during:
(i)
unless subparagraph (ii) applies - the whole of the period applicable under subregulation (3A); or
(ii)
if the loss company was not in existence for the whole of that period - the whole of the portion of that period during which the loss company was in existence; and
(c)
the losses or outgoings have not previously been allowed under the tax law mentioned in subregulation (3A) as a deduction from any income or profits derived by any entity.
History
Reg 152C(3C)(a) substituted by SR No 412 of 1994.
Reg 152C(3), (3A), (3B), (3C), (3D) and (3E) substituted for reg 152C(3) by SR No 38 of 1992.
152C(3D)
Subject to subregulation (3E), in order to find out for the purposes of subregulation (3C) whether a company is a group company during the period applicable under subregulation (3A) (in this subregulationcalled
`the period'
), the following rules must be applied:
(a)
company A is a group company in relation to company B, during the period, if:
(i)
one of the companies is a subsidiary (as defined in paragraph (b)) of the other company; or
(ii)
each of the companies is a subsidiary (as so defined) of company C;
during:
(iii)
unless subparagraph (iv) applies - the whole of the period; or
(iv)
if company A or company B was not, or both of them were not, in existence for the whole of the period - for the whole of the portion of the period during which both of the companies were in existence;
(b)
company A is a subsidiary of company B if company B owns a dominant parcel of shares (as defined in subregulation (8)) of company A during:
(i)
if the circumstance stated in sub-paragraph (a)(iv) applies during a portion of the period - that portion of the period; or
(ii)
in any other case - the whole of the period.
History
Reg 152C(3), (3A), (3B), (3C), (3D) and (3E) substituted for reg 152C(3) by SR No 38 of 1992.
152C(3E)
For the purposes of subregulation (3D), if company A is a subsidiary of company B (including the case where company A is a subsidiary of company B because of 1 or more further applications of this subregulation), every subsidiary of company A is taken to be a subsidiary of company B.
History
Reg 152C(3), (3A), (3B), (3C), (3D) and (3E) substituted for reg 152C(3) by SR No 38 of 1992.
152C(3F)
In spite of subregulation (3A), income or profits derived by an entity:
(a)
that is a CFC; and
(b)
to which subregulation 152C(1) applies;
are to be taken to be `subject to a reduction of tax' in the circumstances set out in subregulation (3G).
History
Reg 152C(3F) inserted by SR No 412 of 1994.
152C(3G)
Subregulation (3F) applies if the income or profits are reduced, under a tax law of a broad-exemption listed country, by losses or outgoings incurred by an Australian resident company, other than those losses or outgoings that are recognised under the tax law of the broad-exemption listed country as being incurred by the Australian resident company in deriving income or profits on a business, in the broad-exemption listed country, at or through a permanent establishment in the broad-exemption listed country.
History
Reg 152C(3G) inserted by SR No 412 of 1994.
152C(4)
Income or profits in relation to Switzerland are taken to be subject to a concessional rate of tax if the income or profits are subject to a concessional rate of tax:
(a)
under the law that imposes the federal foreign tax; or
(b)
under the law that imposes the tax that is, in accordance with regulation 152K, to be treated as if it were an additional federal foreign tax.
152C(5)
For the purposes of paragraph (1)(h),
`tax benefit'
in relation to a broad-exemption listed country, includes a credit, rebate or other tax concession provided in respect of income or profits, other than a credit or rebate for foreign tax payable under a law of another foreign country or tax payable under a law of Australia.
152C(6)
For the purposes of subregulation (3A),
`deduction'
includes a reduction of the income or profits of an entity either directly or by means of:
(a)
the consolidation of the activities of the loss company and the entity; or
(b)
a payment by the entity to the loss company.
History
Reg 152C(6) inserted by SR No 38 of 1992.
152C(7)
For the purposes of subregulation (3C),
`loss period'
in relation to a company, means the period from the start of the relevant period during which the losses or outgoings were incurred by the company to the end of:
(a)
the last day of the period that is referred to in subregulation (3A); or
(b)
if the company ceased to exist during the applicable period stated in paragraph (a) - the end of the day on which the company ceased to exist.
History
Reg 152C(7) inserted by SR No 38 of 1992.
152C(8)
For the purposes of paragraph (3D)(b),
'dominant parcel of shares'
in relation to the shares of a company, means:
(a)
shares representing at least 60% of the paid-up share capital of that company; or
(b)
shares conferring at least 60% of the total rights of the shareholders of that company to vote, or to take part in decision making of that company, concerning:
(i)
the making of distributions of capital and profits of the company to its shareholders; and
(ii)
the constituent document of the company; and
(iii)
any variation of the share capital of the company; or
(c)
shares conferring at least 60% of the total rights to distribution of capital and profits of that company:
(i)
on winding up; and
(ii)
otherwise than on winding up.
History
Reg 152C(8) inserted by SR No 38 of 1992.
Reg 152C amended by SR No 368 of 1997 and inserted by SR No 20 of 1991.
REGULATION 152D
CAPITAL GAINS REGARDED AS SUBJECT TO TAX
152D(1)
In this regulation:
capital gains
means gains or profits or other amounts of a capital nature.
roll-over relief
, in relation to a particular tax accounting period in relation to a listed country, means the deferral of tax liability in the tax accounting period under a tax law of the listed country because of a circumstance specified in regulation 152E.
152D(2)
For section
324 of the Act, if:
(a)
capital gains that are derived by an entity are not subject to tax in a listed country in a particular tax accounting period; and
(b)
apart from the availability of roll-over relief, the capital gains would have been subject to tax in the listed country in the tax accounting period;
the capital gains are to be treated as if they were subject to tax in the listed country in the tax accounting period.
History
Regs 152B, 152C, 152D and 152E substituted for reg 152B to 152H by SR No 115 of 2004.
Reg 152D amended by SR No 368 of 1997 and inserted by SR No 20 of 1991.
REGULATION 152E
152E
CIRCUMSTANCES SPECIFIED FOR THE DEFINITION OF
ROLL-OVER RELIEF
IN REGULATION 152D
For the definition of
roll-over relief
in subregulation
152D(1), each of the following circumstances is specified:
(a)
an entity:
(i)
is taken to have disposed of all or part of a CGT asset because of an act, transaction or event as a result of which the entity has received an amount of money or a replacement CGT asset:
(A)
by way of compensation for the compulsory acquisition, or for the loss or destruction, of the original CGT asset; or
(B)
under a policy of insurance against the risk of loss or destruction of the original CGT asset; and
(ii)
after receiving an amount of money mentioned in subparagraph (i), in order to achieve a deferr