Federal Register of Legislation - Australian Government

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Withholding Tax Instruments as made
These schedules set out the formulas and procedures to be used for calculating the amount to be withheld by entities from withholding payments
Administered by: Treasury
Made 29 May 2014
Registered 10 Jun 2014
Tabled HR 16 Jun 2014
Tabled Senate 16 Jun 2014

 

Australian Taxation Office

 

Taxation Administration Act 1953

 

Pay as you go withholding

 

Taxation Administration Act Withholding Schedules 2014 – Legislative Instrument

I, Steve Vesperman, Deputy Commissioner of Taxation, make this instrument under section 15-25 of Schedule 1 to the Taxation Administration Act 1953.

Signed on the 29th of May 2014

 

Steve Vesperman

Deputy Commissioner of Taxation

 

Commencement

This instrument commences on 1 July 2014.

Purpose

(1)            Withholding schedules specify the formulas and procedures to be used for working out the amount to be withhold by an entity from a withholding payment covered by Subdivision 12-B, 12-C or 12-D of Schedule 1 to the Taxation Administration Act 1953.

(2)            The withholding schedules in this instrument are made for the purposes of collecting income tax, Medicare levy, Temporary Budget Repair levy and amounts of liabilities to the Commonwealth under the Higher Education Support Act 2003, the Social Security Act 1991 and the Student Assistance Act 1973.

(3)          The withholding schedules in this instrument replace schedules which currently apply. This instrument revokes those schedules.

 

 

Withholding Schedules

Each of the withholding schedules listed in the following table, has effect from the date of commencement of this instrument.:

 

Schedule number

Quick code number

Title

1

39407

Statement of formulas for calculating amounts to be withheld

2

39416

Tax table for individuals employed in the horticultural or shearing industry

3

39417

Tax table for actors, variety artists and other entertainers

4

39427

Tax table for return to work payments

5

39428

Tax table for back payments, commissions, bonuses and similar payments

6

39429

Tax table for annuities

7

39430

Tax table for unused leave payments on termination of employment

8

39431

Statement of formulas for calculating Higher Education Loan Program (HELP) and  Student Financial Supplement Scheme (SFSS) components

9

39432

Tax table for seniors and pensioners

10

39433

Tax table for Joint Petroleum Development Area

11

39434

Tax table for employment termination payments

12

39435

Tax table for superannuation lump sums

13

39436

Tax table for superannuation income streams

Revocation of current withholding schedules

Each of the withholding schedules listed in the following table, is withdrawn:

 

Schedule number

NAT number

Title

1

1004-05-2012

Statement of formulas for calculation amounts to be withheld

2

1005-05-2012

Weekly tax table

3

1006-05-2012

Fortnightly tax table

5

1008-05-2012

Weekly tax table with no and half Medicare levy

6

1010-05-2012

Medicare levy adjustment weekly tax table

7

1011-05-2012

Medicare levy adjustment fortnightly tax table

24

1013-05-2012

Tax table for individuals employed in the horticultural or shearing industry

9

1023-05-2012

Tax table for actors, variety artists and other entertainers

10

1024-05-2012

Tax table for daily and casual workers

11

2173-05-2013

Higher Education Loan Program weekly tax table

12

2185-05-2013

Higher Education Loan Program fortnightly tax table

14

2335-05-2013

Statement of formulas for calculating Higher Education Loan Program (HELP) component

16

3305-05-2013

Statement of formulas for calculating Student Financial Supplement Scheme (SFSS) component

17

3306-05-2013

Student Financial Supplement Scheme (SFSS) weekly tax table

18

3307-05-2013

Student Financial Supplement Scheme (SFSS) fortnightly tax table

26

3347-05-2013

Tax table for return to work payments

30

3348-05-2013

Tax table for back payments, commissions, bonuses and similar payments

31

3350-05-2012

Tax table for annuities

28

3351-05-213

Tax table for unused leave payments on termination of employment

21

3539-05-2013

Calculating Higher Education Loan Program in conjunction with Student Financial Supplement Scheme

22

4466-05-2013

Tax table for seniors and pensioners

23

7288-05-2012

Tax table for Joint Petroleum Development Area

32

70980-05-2013

Tax table for employment termination payments

33

70981-05-2012

Tax table for superannuation lump sum

34

70982-05-2012

Tax table for superannuation income streams