INCOME TAX (NON-RESIDENT COMPANIES) ACT 1978
No.
173 of 1978
An Act to impose income tax upon
the reduced taxable income of non-resident companies.
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 (Non-Resident Companies) Act 1978.
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 128t of the
Assessment Act, is imposed by this Act.
Rate of
tax
6. The
rate of tax imposed by this Act is 5 per centum.