INCOME
TAX AND SOCIAL SERVICES CONTRIBUTION (NON-RESIDENT DIVIDENDS).
No.
86 of 1959.
An Act to impose
Income Tax and Social Services Contribution upon certain Dividends derived by
Non-residents.
[Assented
to 2nd December, 1959.]
BE
it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of
Representatives of the Commonwealth of Australia, as follows:—
Short
title.
1. This Act may be cited as the Income Tax and Social Services Contribution (Non-resident Dividends) Act 1959.
Commencement.
2. This Act shall come into operation on the first day of July, One
thousand nine hundred and sixty.
Definition.
3. In this Act, “the Assessment Act” means the Income Tax and Social Services Contribution Assessment Act 1936-1959.
Incorporation.
4. The Assessment Act is incorporated and shall be read as one with
this Act.
Imposition
of tax and contribution.
5. The tax known as income tax and social services contribution, to
the extent that that tax is payable in accordance with section one hundred and
twenty-eight b of the Assessment
Act, is imposed, and shall be levied and paid, upon income to which that
section applies.
Rate
of tax.
6. The rate of income tax and social services contribution imposed
by this Act is thirty per centum.
Section
221yb of Assessment Act.
7.