Tax (Accounts And Records) Amendment Regulations 1996
TAX (ACCOUNTS AND RECORDS) AMENDMENT
REGULATIONS 1995

1989 Revision 1

BR 14/1996

TAXES MANAGEMENT ACT 1976

1976:20

THE TAX (ACCOUNTS AND RECORDS) AMENDMENT
REGULATIONS 1996

The Minister of Finance, in exercise of the powers conferred upon
him by subsection (1) of section 14 and section 50 of the Taxes
Management Act 1976 and otherwise vested in him, makes the following
Regulations:—

Citation
1 These Regulations may be cited as the Tax (Accounts And
Records) Amendment Regulations 1996.

Amendment of reg 2 of B.R. 30/1991
2 Regulation 2 of the Tax (Accounts and Records) Regulations
1991 ("the Regulations") is amended—

(a) by inserting next after the definition of "contracts
exchange" the following—

""corporate services" has the meaning assigned to it by
section 2 of the Corporate Services Tax Act 1995;"

(b) by deleting the group of definitions commencing with the
definition of "employee" and substituting the following—

""employee", "deemed employee", "employer", "exempt
undertaking" and "self-employed person" have the
meanings respectively assigned to them in

TAX (ACCOUNTS AND RECORDS) AMENDMENT
REGULATIONS 1995

2 1989 Revision

subsection (1) of section 2 of the Payroll Tax Act
1995;".

Amendment of regulation 4 of B.R. 30/1991
3 Regulation 4 of the Regulations is amended by deleting
"recorads" and substituting "records".

Amendment of Schedule to B.R. 30/1991
4 The Schedule to the Regulations is amended in the respects
specified in the Table below—

TABLE

A in paragraph 1: (a)

(b)

(c)

delete "Employment Tax and Hospital Levy"
and substitute "Payroll Tax";

except in the proviso, insert next after
"employee" wherever that word appears the
words "or deemed employee";

in the proviso, insert next after the word
"undertaking" the words "under option A";

B in paragraph 2: (a)

(b)

delete "Employment Tax" and substitute
"Payroll Tax";

insert next after the word "employee" the
words "or deemed employee".

C in paragraph 3: (a) delete "for Employment Tax and Hospital
Levy" and substitute "and Employers of
deemed employees for Payroll Tax";

(b) insert next after "self-employed person" the
words "or a deemed employee";

(c) delete from sub-paragraph (a) "section
7(2)(e) of the Miscellaneous Taxes Act 1976"
and substitute "section 12(3)(e) of the
Payroll Tax Act 1995";

(d) delete from sub-paragraph (b) "7 and 7A"
and substitute "12 and 13, as extended by
section 14(4),".

D add the following paragraph at the end of the Schedule—

TAX (ACCOUNTS AND RECORDS) AMENDMENT
REGULATIONS 1995

1989 Revision 3

"8 Records to be kept by Taxpayers for
Corporate Services Tax
Records setting out the following in respect
of each exempted undertaking to which
corporate services are provided—

(a) the nature of the corporate services
provided;

(b) in respect of each such service,
whether it is taxable;

(c) the gross revenue derived from fees
charged to that exempted undertaking
for taxable corporate services provided
to the undertaking during each tax
period.".

Made this day of 1996

Minister of Finance