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16 Feb 11 Amending regulations dealing with estimate rules

Income Tax Amendment Regulations 2011 (No 1) was made on 9 February 2011 and registered on the Federal Register of Legislative Instruments on 14 February 2011 as Select Legislative Instrument 2011 No 3.

These Regulations amend the Income Tax Regulations 1936 to repeal regulation 147G. Regulation 147G is the only provision still remaining in Part 7, and therefore the entire Part has been repealed. The repeal forms part of the re-write of Divisions 8 and 10 of Part VI of ITAA 1936, relating to estimates rules. Estimates rules enable the Commissioner of Taxation  to make an estimate of amounts not paid by taxpayers, as required by the Pay As You Go (PAYG) withholding rules, and to recover the amount of the estimates.

Divisions 8 and 10 have now been rewritten into Division 268 in Schedule 1 to the Taxation Administration Act 1953. Consequential to the rewrite of ITAA 1936, a rewritten regulation to replace Regulation 147G has been made under the Taxation Administration Act 1953 (see below).

Taxation Administration Amendment Regulations 2011 (No 1) was made on 9 February 2011 and registered on the Federal Register of Legislative Instruments on 14 February 2011 as Select Legislative Instrument 2011 No 6.

These Regulations amend the Taxation Administration Regulations 1976 to prescribe the individual in a government entity who can swear/affirm an affidavit or make a statutory declaration, for the purposes of s 268-90 in Schedule 1 to the Taxation Administration Act 1953. Both amendments replicate the effect of regulation 147G of the Income Tax Regulations 1936.

For a copy of the respective Explanatory Statements, click on the Explanatory Statement tab

 


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