Taxation (Use of Money Sets the rates of interest payable on As needed Interest Rates) Regulations underpayments and overpayments of tax. 1998 Income Tax (Fringe Sets the prescribed interest rate that is use Quarterly Benefit Tax, Interest on to determine if a fringe benefit exists in Loans) Regulation 1995 relation to an employment related loan. If the interest rate increases, the new rate applies from the commencement of the next quarter. If the interest rate decreases, the new rate applies from the commencement of the quarter in which the rate decreases. Income Tax (Family Tax Increases the amount of the family tax As needed if – Credit) Regulations credit. the percentage movement in the CPI is 5% or more Income Tax (Minimum Increases the family tax credit threshold in Annually Family Tax Credit) section ME 1(3) of the Income Tax Act Regulations 2007. The credit ensures families do not suffer a reduction of income when moving a welfare benefit into 30 hours or more of unpaid work. Income Tax (In-Work Tax Increases the amount of the in-work Every three years Credit) Regulations payment amount. The amount is only (the first review increased as a result of a review of the was undertaken amount by the Minister of Revenue in in 2008) consultation with the Minister of Social Development. Changes are made by Order in Council if the Minister makes a policy decision to do so. Income Tax (Parental Tax Increases the amount of the parental tax Every three years Credit) Regulations credit. The amount is only increased as a (the first review result of a review of the amount by the was undertaken Minister of Revenue in consultation with in 2008) the Minister of Social Development. Income Tax (Adverse Sets the interest rate that is to be paid on As needed Event Income Equalisation deposits to the adverse events income Scheme Rate of Interest) equalisation scheme. Regulation Income Tax (Deemed Rate Sets the deemed rate of return under the Annual of Return, 20XX-20XX foreign investment fund (FIF) rules. The Income Year) Regulations deemed rate of return is based on an average of the five-year government stock rates prevailing at the end of each quarter throughout the income year and adding a margin of 4%. Income Tax (Payroll Provides for the amount of the subsidy and As needed Subsidy) Regulations 2006 the calculation of the payroll subsidy to be paid to PAYE intermediaries.
Taxation (Use of Money Interest Rates) Regulations 1998 Sets the rates of interest payable on underpayments and overpayments of tax. As needed Income Tax (Fringe Benefit Tax, Interest on Loans) Regulation 1995 Sets the prescribed interest rate that is use to determine if a fringe benefit exists in relation to an employment related loan. If the interest rate increases, the new rate applies from the commencement of the next quarter. If the interest rate decreases, the new rate applies from the commencement of the quarter in which the rate decreases. Quarterly Income Tax (Family Tax Credit) Regulations Increases the amount of the family tax credit. As needed – if the percentage movement in the CPI is 5% or more Income Tax (Minimum Family Tax Credit) Regulations Increases the family tax credit threshold in section ME 1(3) of the Income Tax Act 2007. The credit ensures families do not suffer a reduction of income when moving a welfare benefit into 30 hours or more of unpaid work. Annually Income Tax (In-Work Tax Credit) Regulations Increases the amount of the in-work payment amount. The amount is only increased as a result of a review of the amount by the Minister of Revenue in consultation with the Minister of Social Development. Changes are made by Order in Council if the Minister makes a policy decision to do so. Every three years (the first review was undertaken in 2008) Income Tax (Parental Tax Credit) Regulations Increases the amount of the parental tax credit. The amount is only increased as a result of a review of the amount by the Minister of Revenue in consultation with the Minister of Social Development. Every three years (the first review was undertaken in 2008) Income Tax (Adverse Event Income Equalisation Scheme Rate of Interest) Regulation Sets the interest rate that is to be paid on deposits to the adverse events income equalisation scheme. As needed Income Tax (Deemed Rate of Return, 20XX-20XX Income Year) Regulations Sets the deemed rate of return under the foreign investment fund (FIF) rules. The deemed rate of return is based on an average of the five-year government stock rates prevailing at the end of each quarter throughout the income year and adding a margin of 4%. Annual Income Tax (Payroll Subsidy) Regulations 2006 Provides for the amount of the subsidy and the calculation of the payroll subsidy to be paid to PAYE intermediaries. As needed
2016-other-regulatory-management.docx