Income Tax (International Agreements) (No. 2)
No. 86 of 1967
An
Act to amend the Income Tax (International Agreements) Act 1953–1966, as amended by the Income Tax (International Agreements) Act
1967, in relation to Withholding Tax.
[Assented
to 8 November 1967]
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
(No. 2) 1967.
(2.) The Income
Tax (International Agreements) Act 1953–1966, as amended by the Income Tax (International Agreements) Act
1967, is in this Act referred to as the Principal Act.
(3.) Section 1 of the Income Tax (International
Agreements) Act 1967 is amended
by omitting sub-section (2.).
(4.) The Principal Act, as amended by this Act, may
be cited as the Income Tax (International Agreements) Act 1953–1967.
Commencement.
2.This
Act shall come into operation on the first day of January, One thousand nine
hundred and sixty-eight.
Ascertainment
of Australian tax on dividend.
3.Section
16 of the Principal Act is amended by omitting from sub-section (8.) the
definition of “Australian tax” and inserting in its stead the following
definition:—
“‘Australian tax’ means Australian tax other
than withholding tax;”.
Withholding
tax.
4. Section 17a of the Principal Act is amended by
omitting the words “dividend (withholding) tax” (wherever occurring) and
inserting in their stead the words “withholding tax”.
Saving.
5. The reference in the definition of “Australian tax” in
sub-section (8.) of section 16, and each reference in section 17a, of the Principal Act as amended by
this Act to withholding tax shall, on and after the day on which this Act comes
into operation, be read as including a reference to dividend (withholding) tax
as defined by sub-section (1.) of section 35 of the Income Tax Assessment Act (No. 4)
1967