Income Tax
(International Agreements)
No. 17 of 1966
An
Act to amend the Income Tax (International Agreements) Act 1953–1965 in relation to Decimal
Currency.
[Assented to 18 May, 1966]
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 and citation.
1.—(1.) This Act may be cited as the Income Tax (International Agreements) Act
1966.
(2.) The Income
Tax (International Agreements) Act 1953–1965, as amended by this Act,
may be cited as the Income Tax (International Agreements) Act 1953–1966.
Commencement.
2. This Act
shall be deemed to have come into operation on the fourteenth day of February,
One thousand nine hundred and sixty-six.
Ascertainmen
of Australian tax on dividends.
3. Section
16 of the Income Tax (International Agreements) Act 1953–1965 is amended—
(a)
by omitting from paragraph (a) of the
definition of “‘the average rate of tax”’ in sub-section (8.) the words “pound”
and “pounds” and inserting in their stead the words “dollar” and “dollars”,
respectively; and
(b)
by omitting from paragraph (b) of
that definition the words “pound” and “pounds” and inserting in their stead the
words “dollar” and “dollars”, respectively.
Application.
4. The
amendments made by the last preceding section do not apply where the assessment
of the taxpayer’s taxable income is made in the currency provided for by the Coinage Act 1909