SR 2006/159
Issued
2006

Payroll subsidy rate set by regulation

The Income Tax (Payroll Subsidy) Regulations 2006 provide the calculation of the payroll subsidy to be paid to listed payroll intermediaries.

The Income Tax (Payroll Subsidy) Regulations 2006 come into force on 1 October 2006 and provide the calculation of the payroll subsidy to be paid to listed payroll intermediaries under section NBB 6 of the Income Tax Act 2004.

The subsidy will be paid in respect of employers who contract the services of a listed payroll intermediary. The regulations set the payroll subsidy at $2 per employee per pay day.

The regulations were made by Order in Council on 19 June 006.

(Income Tax (Payroll Subsidy) Regulations 2006 (2006/159))