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Each of the withholding schedules listed in the following table, is withdrawn: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