OPS 2007/3


AUSTRALIAN GOVERNMENT

This Legislative Instrument has been repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013.

Taxation Administration Act 1953

Legislative Instrument

I, Erin Kathleen Holland, Acting Second Commissioner of Taxation, make this instrument under section 15-25 of Schedule 1 to the Taxation Administration Act 1953.

1. Name of Instrument

This instrument is the Taxation Administration Act Withholding Schedules 2007.

2 Commencement

This instrument commences on 1 July 2007.

3 Purpose

(1) Withholding schedules specify the amounts, formulas and procedures to be used for working out the amount required to be withheld by an entity from a withholding payment covered by Subdivision 12-B, 12-C or 12-D of Schedule 1 to the Taxation Administration Act 1953.

(2) The withholding schedules in this instrument are made for the purposes of collecting income tax, Medicare levy and amounts of liabilities to the Commonwealth under the Higher Education Funding Act 1988, the Higher Education Support Act 2003, the Social Security Act 1991 and the Student Assistance Act 1973.

4 Withholding Schedules

Each of the withholding schedules listed in the following table, has effect:

Schedule
number
NAT number Title
1 1004-05.2007 Statement of formulas for calculating amounts to be withheld
2 1005-05.2007 Weekly tax table
Incorporating Medicare levy with and without leave loading
3 1006-05.2007 Fortnightly tax table
Incorporating Medicare levy with and without leave loading
4 1007-05.2007 Monthly tax table
Incorporating Medicare levy with and without leave loading
5 1008-05.2007 Weekly tax table with no and half Medicare levy
Including Medicare levy adjustment to half levy - table.
6 1010-05.2007 Medicare levy adjustment weekly tax table
7 1011-05.2007 Medicare levy adjustment fortnightly tax table
8 1012-05.2007 Medicare levy adjustment monthly tax table
9 1023-05.2007 Special tax table for actors, variety artists and other entertainers
10 1024-05.2007 Special daily rates tax table
Incorporating Medicare levy, including statement of formulas
11 2173-05.2007 Higher Education Loan Programme (HELP) weekly tax table
Including statement of formulas
12 2185-05.2007 Higher Education Loan Programme (HELP) fortnightly tax table
Including statement of formulas
13 2186-05.2007 Higher Education Loan Programme (HELP) monthly tax table
Including statement of formulas
14 2335-05.2007 Statement of formulas for calculating Higher Education Loan Programme (HELP) component
Including coefficients for calculating weekly withholding amounts incorporating HELP component
15 2446-05.2007 Statement of formulas for calculating withholding amounts for members of the Defence Force
16 3305-05.2007 Statement of formulas for calculating Student Financial Supplement Scheme (SFSS) component
Including coefficients for calculating weekly withholding amounts incorporating SFSS component
17 3306-05.2007 Student Financial Supplement Scheme (SFSS) weekly tax table
Including statement of formulas
18 3307-05.2007 Student Financial Supplement Scheme (SFSS) fortnightly tax table
Including statement of formulas
19 3308-05.2007 Student Financial Supplement Scheme (SFSS) monthly tax table
Including statement of formulas
20 3479-05.2007 Quarterly tax table
Incorporating Medicare levy with and without leave loading
21 3539-05.2007 Coefficients for calculating weekly withholding amounts
Incorporating Student Financial Supplement Scheme (SFSS) component and Higher Education Loan Programme (HELP) component
22 4466-05.2007 Special tax table for aged pensioners and low income aged persons (senior Australians)
28 3351-05.2007 Tax table for unused leave payments on termination of employment
31 3350-05.2007 Tax table for non-superannuation income streams
32 70980-05.2007 Tax table for employment termination payments
33 70981-05.2007 Tax table for superannuation lump sums
34 70982-05.2007 Tax table for superannuation income streams

5 Revocation of current withholding schedules

The following withholding schedules are to be withdrawn:

Schedule
number
NAT number Title
1 1004-05.2006 Statement of formulas for calculating amounts to be withheld
2 1005-05.2006 Weekly tax table
Incorporating Medicare levy with and without leave loading
3 1006-05.2006 Fortnightly tax table
Incorporating Medicare levy with and without leave loading
4 1007-05.2006 Monthly tax table
Incorporating Medicare levy with and without leave loading
5 1008-05.2006 Weekly tax table with no and half Medicare levy
Including weekly table for Medicare levy adjustment - half levy
6 1010-05.2006 Medicare levy adjustment weekly tax table
7 1011-05.2006 Medicare levy adjustment fortnightly tax table
8 1012-05.2006 Medicare levy adjustment monthly tax table
9 1023-05.2006 Special tax table for actors, variety artists and other entertainers
10 1024-05.2006 Special daily rates tax table
Incorporating Medicare levy, including statement of formulas
11 2173-05.2006 Higher Education Loan Programme (HELP) weekly tax table
Including statement of formulas
12 2185-05.2006 Higher Education Loan Programme (HELP) fortnightly tax table
Including statement of formulas
13 2186-05.2006 Higher Education Loan Programme (HELP) monthly tax table
Including statement of formulas
14 2335-05.2006 Statement of formulas for calculating Higher Education Loan Programme (HELP) component
Including coefficients for calculating weekly withholding amounts incorporating HELP component
15 2446-05.2006 Statement of formulas for calculating withholding amounts for members of the Defence Force
16 3305-05.2006 Statement of formulas for calculating Student Financial Supplement Scheme (SFSS) component
Including coefficients for calculating weekly withholding amounts incorporating SFSS component
17 3306-05.2006 Student Financial Supplement Scheme (SFSS) weekly tax table
Including statement of formulas
18 3307-05.2006 Student Financial Supplement Scheme (SFSS) fortnightly tax table
Including statement of formulas
19 3308-05.2006 Student Financial Supplement Scheme (SFSS) monthly tax table
Including statement of formulas
20 3479-05.2006 Quarterly tax table
Incorporating Medicare levy with and without leave loading
21 3539-05.2006 Coefficients for calculating weekly withholding amounts
Incorporating Student Financial Supplement Scheme (SFSS) component and Higher Education Loan Programme (HELP) component
22 4466-05.2006 Special tax table for aged pensioners and low income aged persons (senior Australians)
27 3349-05.2006 Tax table for eligible termination payments
28 3351-05.2006 Tax table for unused leave payments on termination of employment
31 3350-05.2006 Superannuation pensions and annuities



Dated 28 May 2007

Erin Holland
Acting Second Commissioner of Taxation


Registration Number: F2007L01533

Registration Date: 29 May 2007

Related Explanatory Statements:

OPS 2007/3 - Explanatory statement