Income Tax Amendment Regulations 2000 (No. 2)
(72 of 2000)
12 May 2000
Made under Income Tax Assessment Act 1936
1 Name of Regulations
These Regulations are the Income Tax Amendment Regulations 2000 (No. 2).
2 Commencement
These Regulations commence on 1 July 2000.
3 Amendment of Income Tax Regulations 1936
Schedule 1 amends the Income Tax Regulations 1936.
4 Transitional
(1) The amendments of the Income Tax Regulations 1936 made by items [12] to [22], [24] to [27], [29] and [30] of Schedule 1 do not apply in relation to a payment made before 1 July 2000.
(2) Despite the amendments of the Income Tax Regulations 1936 made by item [12] of Schedule 1, a declaration mentioned in regulation 85, 86, 86A, 88 or 88A of those Regulations (as in force immediately before 1 July 2000) that had effect at that time continues to have effect as if it were a declaration given under subsection 15-50 (1) of Schedule 1 to the Taxation Administration Act 1953 on 1 July 2000.
Schedule 1 Amendments
[1] Subregulation 2 (1), definition of employment declaration
substitute
ABN (Australian Business Number) has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.
[2] Subregulation 19 (2)
omit
an employment declaration
insert
a TFN declaration
[3] Subregulation 55 (1)
after
Part VA of the Act
insert
, or ABN is quoted under section 12-155 of Schedule 1 to the Taxation Administration Act 1953,
[4] Paragraph 55 (2) (a)
after
tax file numbers
insert
or ABNs
[5] Paragraph 55 (5) (b)
after
tax file number
insert
or ABN
[6] Paragraph 56 (4) (d)
after
Part VA of the Act,
insert
or the ABN (if any) quoted under section 12-155 of Schedule 1 to the Taxation Administration Act 1953,
[7] Paragraph 56 (4) (g)
substitute
(g) the total amount of:
(i) any deductions made under Division 3B of Part VI of the Act; and
(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
[8] Subparagraph 56 (4) (h) (iii)
after
Part VI of the Act
insert
, 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
[9] Paragraph 56 (4A) (d)
after
Part VA of the Act
insert
, and the ABN (if any) quoted under section 12-155 of Schedule 1 to the Taxation Administration Act 1953,
[10] Paragraph 56 (4A) (g)
substitute
(g) the total amount of:
(i) any deductions made under Division 3B of Part VI of the Act; and
(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
[11] Subregulation 56 (5B)
substitute
(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 deduct under subsection 221YHZC (1A) of the Act, or 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.
[12] Part 7, Division 2, Subdivisions 1 and 2
omit
[13] Regulation 97, heading
substitute
97 Definitions for Subdivisions 3 and 3A
[14] Subregulation 97 (1)
omit
as in that Subdivision.
insert
and Subdivision 3A as in Subdivisions AAA and AAB of Division 17 of Part III of the Act.
[15] Subregulation 97 (2), definition of concessional component
omit
[16] Subregulation 97 (2), definition of ETP group certificate
omit
[17] Subregulation 97 (2), definitions of non-dependant and non-qualifying component
omit
[18] Subregulation 97 (2), definition of PAYE account number
omit
[19] Subregulation 97 (2), definition of prescribed non-resident
omit
[20] Subregulation 97 (2), definitions of retained amount of the pre-July 83 component and retained amount of the post-June 83 component
omit
[21] Subregulation 97 (2), definition of untaxed element of the post-June 83 component
omit
[22] Regulation 98
omit
[23] Regulation 99F
substitute
99F Aggregated amount of pre-July 83 component and taxed element of post-June 83 component
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.
[24] Subregulations 99I (3) and (4)
omit
[25] Regulations 99J and 99K
omit
[26] Regulation 100
omit
[27] Part 7, Division 2, Subdivisions 4, 5 and 6
omit
[28] Part 7, Division 3
omit
[29] Part 7, Divisions 4, 5, 6 and 7
omit
[30] Part 7, Divisions 9, 10, 11, 11A and 11B
omit