Trade Support Loans (Overseas Debtor Repayment) Amendment and Repeal Instrument 2018
Trade Support Loans Act 2014
I, Simon Birmingham, Minister for Education and Training, make this instrument under subsection 106(1) of the Trade Support Loans Act 2014 and subrule 16(6) of the Trade Support Loan Rules 2014.
Dated 27 June 2018
_____________________________
SIMON BIRMINGHAM
Minister for Education and Training
Contents
2 Commencement
3 Authority
4 Schedules
Schedule 1—Amendments and repeal
Trade Support Loan Rules 2014
Trade Support Loans (Occupation and Occupation Standard Deduction) Determination 2017
This instrument is the Trade Support Loan (Overseas Debtor Repayment) Amendment and Repeal Instrument 2018.
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information | ||
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of this instrument | 1 July 2018. | 1 July 2018 |
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
This instrument is made under subsection 106(1) of the Trade Support Loans Act 2014 and subrule 16(6) of the Trade Support Loan Rules 2014.
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Schedule 1—Amendments and repeal
1 Rule 4 (after definition of Act)
Insert:
ATO Occupation Code means the Salary and wage occupation codes 2018 published by the Australian Taxation Office in June 2018.
Note: In 2018, the Salary and wage occupation codes 2018 was available at www.ato.gov.au.
2 Paragraph 16(5)(b)
Omit “, determined by the Minister under subrule (6),”
3 Subrule 16(6)
Omit the subrule, substitute:
(6) For paragraph (5)(b), the standard deduction for an occupation is:
(a) if the occupation has an occupation code listed in the ATO Occupation Code—the median ratio of work-related expenses to employment-related income calculated by the Australian Taxation Office for the occupation with that occupation code; or
(b) otherwise—nil.
4 Application of amendments
The amendments to the Trade Support Loan Rules 2014 made by this instrument apply in respect of any simple self-assessment method chosen (for working out a person’s foreign-sourced income) after the commencement of this instrument.
Trade Support Loans (Occupation and Occupation Standard Deduction) Determination 2017
5 Repeal
Repeal the instrument.