Taxation Administration Amendment Regulations 2006 (No. 1)

(156 of 2006)

26 June 2006

Taxation Administration Act 1953

1   Name of Regulations

These Regulations are the Product Stewardship (Oil) Amendment Regulations 2006 (No. 1).

2   Commencement

These Regulations commence on 1 July 2006.

3   Amendment of Taxation Administration Regulations 1976

Schedule 1 amends the Taxation Administration Regulations 1976.

Schedule 1   Amendments

[1]   Subregulation 34 (1)

omit

48.5%

insert

46.5%

[2]   Subregulation 34 (3)

substitute

(3) The amount to be withheld from the payment is the amount worked out using the formula:

(amount of payment - franked amount) * 0.465

[3]   Further amendments