Statutory Rules 1997    No. 1981

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Income Tax Assessment Regulations

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and under section 4 of the Acts Interpretation Act 1901, make the following Regulations under the Income Tax Assessment Act 1997.

Dated 9 July 1997.

 WILLIAM DEANE

 Governor-General

By His Excellency’s Command,

c. r. kemp

Assistant Treasurer

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Citation

 1. These Regulations may be cited as the Income Tax Assessment Regulations.

Commencement

 2. These Regulations commence on 1 July 1997.

Allowance and bounty prescribed for items 1.1 and 1.2 in Section 51-5 of Act

 51-5.01 For items 1.1 and 1.2 of section 51-5 of the Act, the following allowances and bounties are prescribed:

 (a) a separation allowance payable on or after 12 October 1982 under Determination 0202 (Separation Allowance) made under the Defence Act 1903;

 (b) a living out allowance payable on or after 17 July 1984 under Determination 0507 (Living Out Allowance) made under that Act;

 (c) a living out away from home allowance payable on or after 20 December 1984 under Determination 0508 (Living Out Away From Home Allowance) made under that Act;

 (d) an education allowance payable on or after 23 October 1984 under Determination 0501 (Education Allowance) made under that Act;

 (e) a scholarship allowance payable on or after 24 October 1984 under Determination 0502 (Scholarship Allowance) made under that Act;

 (f) financial assistance payable on or after 30 November 1984 under Determination 3725 (Education Assistance Overseas) made under that Act;

 (g) a child education allowance payable on or after
12 October 1984 under Determination 3726 (Child Education Allowance) made under that Act;

 (h) a re-engagement bounty payable on or after
30 November 1984 under Determination 0701
(Re-engagement Bounty) made under that Act;

 (j) a disturbance allowance payable on or after 1 July 1991 under Determination 0505 (Disturbance Allowance) made under that Act;

 (k) a transfer allowance payable on or after 1 July 1991 under Determination 3702 (Transfer Allowance) made under that Act;

 (l) a deployment allowance, in respect of non-warlike service, payable on or after 31 July 1994 under a Determination made under that Act.

Cost of natural increase of live stock—paragraph 70-55 (1) (b) of Act

 70-55.01 For paragraph 70-55 (1) (b) of the Act, the cost prescribed for each animal in a class of live stock set out in column 1 of the following table is the amount applicable to that class in column 2 of the table.

[NOTE:  For the cost prescribed for natural increase occurring before the 1997-98 year of income, see subregulation 10 (3) of the Income Tax Regulations.]

Definitions

 995-1.01 In these Regulations, unless the contrary intention appears:

“Act” means the Income Tax Assessment Act 1997.

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NOTE

1. Notified in the Commonwealth of Australia Gazette on 16 July 1997.