AustLII Tasmanian Numbered Acts

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TAXATION LEGISLATION (MISCELLANEOUS AMENDMENTS) ACT 2006 (NO. 40 OF 2006) - SECT 31

Section 11A amended (Annual adjustments)

Section 11A of the Principal Act is amended as follows:
(a) by omitting from subsection (3B) "is –" and substituting "is as follows:" ;
(b) by omitting from subsection (3B)(a) "or" second occurring;
(c) by omitting from subsection (3B)(b) "year" first occurring and substituting "year, being a financial year in which February has 28 days," ;
(d) by inserting the following paragraph after paragraph (b) in subsection (3B) :
(c) if adjusted Australian wages for the year, being a financial year in which February has 29 days, are more than $1 010 000, an amount ascertained by applying the rate of 6.10% to the difference between the total of the taxable wages paid or payable by the employer during that financial year and an amount calculated in accordance with the following formula:
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(e) by omitting subsection (5) and substituting the following subsection:
(5)  In this section –
adjusted Australian wages means –
(a) in respect of a financial year commencing on or after 1 July 1992 in which February has 28 days, the Australian wages paid or payable by an employer during that financial year, multiplied by –
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(b) in respect of a financial year commencing on or after 1 July 1992 in which February has 29 days, the Australian wages paid or payable by an employer during that financial year, multiplied by –
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where D is the number of days on which the employer was an employer during the financial year.



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