INCOME
TAX (FILM ROYALTIES) ACT 1977
No.
131 of 1977
An Act to impose income
tax upon income derived by non-residents in respect of the supply of films and
video tapes.
BE
IT ENACTED by the Queen, and the Senate and House of Representatives of the Commonwealth
of Australia, as follows:
Short title
1. This Act may be cited
as the Income Tax (Film Royalties) Act 1977.
Commencement
2. This Act shall come
into operation on the day on which it receives the Royal Assent.
Interpretation
3. In this Act, “Assessment
Act” means the Income Tax Assessment Act 1936.
Incorporation
4. The Assessment Act is
incorporated and shall be read as one with this Act.
Imposition of tax
5. The tax known as income
tax, to the extent that that tax is payable in accordance with section 136a 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 tax imposed
by this Act upon income to which section 136a
of the Assessment Act applies is 10 per centum.