Income Tax
(Non-resident Dividends and Interest) Act 1973
No. 167 of 1973
AN ACT
To
amend the Income Tax (Non-resident Dividends andInterest) Act 1967.
[Assented to 11 December 1973]
BE IT ENACTED by the Queen, the
Senate and the House of Representatives of Australia, as follows:—
Short
title and citation.
1.
(1) This Act may be cited as the Income Tax (Non-resident Dividends and Interest) Act 1973.
(2) The Income Tax (Non-resident
Dividends and Interest) Act 1967,
as amended by this Act, may be cited as the Income
Tax (Non-resident Dividends and
Interest) Act 1967-1973.
Commencement.
2. This Act shall be deemed to have come into operation on 26 October
1973.
3. Section 7 of the Income Tax (Non-resident Dividends and Interest) Act 1967 is repealed and the following section substituted:—
Rates
of tax.
“7. The rates of income tax imposed
by this Act are—
(a)
in respect of income to which sub-section (4) of section 128b of the Assessment Act applies—
(i)
in the case of income derived by a resident of Papua New Guinea—15 per centum;
or
(ii)
in any other case—30 per centum; and
(b)
in respect of income to which sub-section (5) of that section applies—10 per
centum.”.