Commonwealth Numbered Regulations

INCOME TAX AMENDMENT REGULATIONS 2000 (NO. 2) 2000 NO. 72 - SCHEDULE 1

(regulation 3)

[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

[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

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