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TAXATION ADMINISTRATION AMENDMENT REGULATIONS 2005 (NO. 2) (SLI NO 182 OF 2005)
Issued by authority of the Minister for Revenue
and Assistant Treasurer
Taxation Administration Act 1953
Taxation Administration Regulations 2005 (No. 2)
Section 18 of the Taxation Administration Act 1953 (the Act) provides that the Governor-General may make regulations prescribing matters required or permitted by the Act to be prescribed, or necessary or convenient to be prescribed for carrying out or giving effect to the Act.
The purpose of the Regulations is to include a reference to the Higher Education Loan Programme (HELP) in regulation 26 of the Taxation Administration Regulations 1976 (the Principal Regulations) to reflect the changes to higher education funding arrangements.
The Higher Education Support Act 2003 replaced the Higher Education Contribution Scheme (HECS) with HELP from 1 January 2005. Debts under HELP are to be collected through the pay as you go (PAYG) withholding system in the same way as HECS debts.
Subregulation 26(2) of the Principal Regulations prescribes matters about which taxpayers may make declarations for the purposes of paragraph 15‑50(3)(b) of Schedule 1 to the Act. These declarations are used in determining the amount to withhold from the payment under the PAYG withholding system.
The Regulations insert paragraph 26(2)(ba) into the Principal Regulations to include a reference to the HELP. This includes the matter of whether an individual has an accumulated HELP debt within the meaning of section 140-25 of the Higher Education Support Act 2003 as a matter about which the individual may make a declaration for the purposes of paragraph 15-50(3)(b) of Schedule 1 to the Act.
Consultation was not undertaken in relation to this instrument because it is minor or machinery in nature and does not substantially change the law.
The Act specifies no conditions that need to be satisfied before the power to make the Regulations may be exercised.
The Regulations commenced on the day after registration on the Federal Register of Legislative Instruments.