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Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates (2011 Budget) (Amendment) Act 2010

PAPUA NEW GUINEA

Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates (2011 Budget) (Amendment) Act 2010.

No. 19 of 2010.

Certified on: 19 MAY 2011

Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates (2011 Budget) (Amendment) Act 2010.

ARRANGEMENT OF SECTION.

New Schedule 4.10 (Amendment of Schedule 4).

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No. 19 of 2010.

AN ACT

entitled

Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates (2011 Budget) (Amendment) Act 2010.

Being an Act to amend the Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates Act 1984,

MADE BY the National Parliament to come into operation on 1 January 2011.

NEW SCHEDULE 4.10 (AMENDMENT OF SCHEDULE 4).

Schedule 4 of the Principal Act is amended by inserting a new schedule after Schedule 4.9 as follows:

"SCHEDULE 4.10 - RETIREMENT SAVINGS ACCOUNTS.

In the case of amounts drawn from a retirement savings account as specified in Subsection (5) of Regulation 5K of the Income Tax Regulations 1959, the rate of income tax is 30% of those amounts.".

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I hereby certify that the above is a fair print of the Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates (2011 Budget)(Amendment) Act 2010 which has been made by the National Parliament.

Clerk of the National Parliament.
19 MAY 2011

I hereby certify that the Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates (2011 Budget)(Amendment) Act 2010 was made by the National Parliament on 23 November 2010.

Speaker of the National Parliament.
19 MAY 2011