Commonwealth Numbered Regulations

1993 No. 202 INCOME TAX REGULATIONS (AMENDMENT) - REG 5

5.1 Subregulation 98 (1): Omit Table 1, substitute:

"TABLE 1
s. 27b (1)(a) amounts
Rates of deductions (%) for year
of income commencing on 1 July
Item   Class of eligible   Part that is subject   1991   1992    1993

       assessable income   to deduction                          or

later
1      27B (1)(a)-B55-F84  derived amount        23.25  21.25   21.40

2      27B (1)(a)-A55-F84  low rate part          4.25   0.00    0.00

3      27B (1)(a)-A55-F84  remaining part        19.25  16.25   16.40

4      27B (1)(a)-B55-F85  derived amount        21.25  21.25   21.40

5      27B (1)(a)-A55-F85  low rate part          0.00   0.00    0.00

6      27B (1)(a)-A55-F85  remaining part        16.25  16.25   16.40

7      27B (1)(a)-B55-F86  derived amount        21.25  21.25   21.40

8      27B (1)(a)-A55-F86  low rate part          0.00   0.00    0.00

9      27B (1)(a)-A55-F86  remaining part        16.25  16.25   16.40

10     27B (1)(a)-B55-F87  derived amount        21.25  21.25   21.40

11     27B (1)(a)-A55-F87  low rate part          0.00   0.00    0.00

12     27B (1)(a)-A55-F87  remaining part        16.25  16.25   16.40

5.2 Subregulation 98 (1): Omit Table 2, substitute:
TABLE 2
s. 27b (1)(b) amounts
Rates of deductions (%) for
year of income commencing
on 1 July
                                                1990;   1993 or later

Item  Class of eligible    Part that is subject 1991;

      assessable income    to deduction         1992

1     27B (1)(b)-B55       derived amount       31.25         31.40

2     27B (1)(b)-A55       low rate part        16.25         16.40

3     27B (1)(b)-A55       remaining part       31.25         31.40

5.3 After subregulation 98 (1), insert:

"(1A) For the purpose of subregulation (1), the prescribed rate of deduction
in respect of an amount of eligible assessable income received, or entitled to
be received, after 30 June 1993 but before 1 August 1993, is taken to be the
rate that would be applicable under Table 1 or 2, as the case may be, if the
amount had been received, or entitled to be received, on or before 30 June
1993.".
5.4 Paragraph 98 (8) (c): Omit "net relevant amount", substitute "sum of the
retained amounts of the pre-July 83 component and the post-June 83 component,
respectively, of the ETP,".
5.5 Paragraph 98 (8) (d): Omit "net relevant amount", substitute "sum of the
retained amounts of the pre-July 83 component and the post-June 83 component,
respectively, of the ETP,".
5.6 Subregulation 98 (10): Omit the subregulation.