Commonwealth Numbered Regulations

INCOME TAX ASSESSMENT AMENDMENT REGULATIONS 2000 (NO. 1) 2000 NO. 1 - SCHEDULE 1

(regulation 3)

[1] Regulation 28-25.01

substitute

For the purposes of section 28-25 of the Act, the number of cents used for calculating a deduction for car expenses for an income year, using the `cents per kilometre' method, is set out in Part 2 of Schedule 1.

[2] After regulation 995-1.01

insert

(regulation 28-25.01)

Part 1 Definitions

In this Schedule:

"small car" means a car that is powered by:

(a)

an engine (other than a rotary engine) with a capacity that does not exceed 1600 cm ³ ; or

(b)

a rotary engine with a capacity that does not exceed 800 cm ³ .

"medium car" means a car that is powered by:

(a)

an engine (other than a rotary engine) with a capacity that exceeds 1600 cm ³ but does not exceed 2600 cm ³ ; or

(b)

a rotary engine with a capacity that exceeds 800 cm ³ but does not exceed 1300 cm ³ .

"large car" means a car that is powered by:

(a)

an engine (other than a rotary engine) with a capacity that exceeds 2600 cm ³ ; or

(b)

a rotary engine with a capacity that exceeds 1300 cm ³ .

Part 2 Cents

Note
For the rate prescribed for earlier income years, see r 147 of the Income Tax Regulations 1936 .