Taxation Administration Act Withholding Schedules 2007
I, Erin Kathleen Holland, Acting Second Commissioner of Taxation, make this instrument under section 15-25 of Schedule 1 to the Taxation Administration Act 1953.
Dated: 28 May 2007
Erin Holland
Acting Second Commissioner of Taxation
1 Name of instrument
This instrument is the Taxation Administration Act Withholding Schedules 2007.
2 Commencement
This instrument commences on 1 July 2007.
3 Purpose
(1) Withholding schedules specify the amounts, formulas and procedures to be used for working out the amount required to be withheld 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 and amounts of liabilities to the Commonwealth under the Higher Education Funding Act 1988, the Higher Education Support Act 2003, the Social Security Act 1991 and the Student Assistance Act 1973.
4 Withholding Schedules
Each of the withholding schedules listed in the following table, has effect:
Schedule number
NAT number
Title
1
1004-05.2007
Statement of formulas for calculating amounts to be withheld
2
1005-05.2007
Weekly tax table
Incorporating Medicare levy with and without leave loading
3
1006-05.2007
Fortnightly tax table
Incorporating Medicare levy with and without leave loading
4
1007-05.2007
Monthly tax table
Incorporating Medicare levy with and without leave loading
5
1008-05.2007
Weekly tax table with no and half Medicare levy
Including Medicare levy adjustment to half levy – table.
6
1010-05.2007
Medicare levy adjustment weekly tax table
7
1011-05.2007
Medicare levy adjustment fortnightly tax table
8
1012-05.2007
Medicare levy adjustment monthly tax table
9
1023-05.2007
Special tax table for actors, variety artists and other entertainers
10
1024-05.2007
Special daily rates tax table
Incorporating Medicare levy, including statement of formulas
11
2173-05.2007
Higher Education Loan Programme (HELP) weekly tax table
Including statement of formulas
12
2185-05.2007
Higher Education Loan Programme (HELP) fortnightly tax table
Including statement of formulas
13
2186-05.2007
Higher Education Loan Programme (HELP) monthly tax table
Including statement of formulas
14
2335-05.2007
Statement of formulas for calculating Higher Education Loan Programme (HELP) component
Including coefficients for calculating weekly withholding amounts incorporating HELP component
15
2446-05.2007
Statement of formulas for calculating withholding amounts for members of the defence Force
16
3305-05.2007
Statement of formulas for calculating Student Financial Supplement Scheme (SFSS) component
Including coefficients for calculating weekly withholding amounts incorporating SFSS component
17
3306-05.2007
Student Financial Supplement Scheme (SFSS) weekly tax table
Including statement of formulas
18
3307-05.2007
Student Financial Supplement Scheme (SFSS) fortnightly tax table
Including statement of formulas
19
3308-05.2007
Student Financial Supplement Scheme (SFSS) monthly tax table
Including statement of formulas
20
3479-05.2007
Quarterly tax table
Incorporating Medicare levy with and without leave loading
21
3539-05.2007
Coefficients for calculating weekly withholding amounts
Incorporating Student Financial Supplement Scheme (SFSS) component and Higher Education Loan Programme (HELP) component
22
4466-05.2007
Special tax table for aged pensioners and low income aged persons (senior Australians)
28
3351-05.2007
Tax table for unused leave payments on termination of employment
31
3350-05.2007
Tax table for non-superannuation income streams
32
70980-05.2007
Tax table for employment termination payments
33
70981-05.2007
Tax table for superannuation lump sums
34
70982-05.2007
Tax table for superannuation income streams
5 Revocation of current withholding schedules
The following withholding schedules are to be withdrawn:
Schedule number
NAT number
Title
1
1004-05.2006
Statement of formulas for calculating amounts to be withheld
2
1005-05.2006
Weekly tax table
Incorporating Medicare levy with and without leave loading
3
1006-05.2006
Fortnightly tax table
Incorporating Medicare levy with and without leave loading
4
1007-05.2006
Monthly tax table
Incorporating Medicare levy with and without leave loading
5
1008-05.2006
Weekly tax table with no and half Medicare levy
Including weekly table for Medicare levy adjustment – half levy
6
1010-05.2006
Medicare levy adjustment weekly tax table
7
1011-05.2006
Medicare levy adjustment fortnightly tax table
8
1012-05.2006
Medicare levy adjustment monthly tax table
9
1023-05.2006
Special tax table for actors, variety artists and other entertainers
10
1024-05.2006
Special daily rates tax table
Incorporating Medicare levy, including statement of formulas
11
2173-05.2006
Higher Education Loan Programme (HELP) weekly tax table
Including statement of formulas
12
2185-05.2006
Higher Education Loan Programme (HELP) fortnightly tax table
Including statement of formulas
13
2186-05.2006
Higher Education Loan Programme (HELP) monthly tax table
Including statement of formulas
14
2335-05.2006
Statement of formulas for calculating Higher Education Loan Programme (HELP) component
Including coefficients for calculating weekly withholding amounts incorporating HELP component
15
2446-05.2006
Statement of formulas for calculating withholding amounts for members of the Defence Force
16
3305-05.2006
Statement of formulas for calculating Student Financial Supplement Scheme (SFSS) component
Including coefficients for calculating weekly withholding amounts incorporating SFSS component
17
3306-05.2006
Student Financial Supplement Scheme (SFSS) weekly tax table
Including statement of formulas
18
3307-05.2006
Student Financial Supplement Scheme (SFSS) fortnightly tax table
Including statement of formulas
19
3308-05.2006
Student Financial Supplement Scheme (SFSS) monthly tax table
Including statement of formulas
20
3479-05.2006
Quarterly tax table
Incorporating Medicare levy with and without leave loading
21
3539-05.2006
Coefficients for calculating weekly withholding amounts
Incorporating Student Financial Supplement Scheme (SFSS) component and Higher Education Loan Programme (HELP) component
22
4466-05.2006
Special tax table for aged pensioners and low income aged persons (senior Australians)
27
3349-05.2006
Tax table for eligible termination payments
28
3351-05.2006
Tax table for unused leave payments on termination of employment
31
3350-05.2006
Superannuation pensions and annuities
