Income Tax (Non-resident Dividends)
No. 106 of 1965
An Act to impose Income Tax upon certain Dividends derived by Non-residents.
[Assented to 14 December, 1965]
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.
1. This Act may be cited as the Income Tax (Non-resident Dividends) Act 1965.
Commencement.
2. This Act shall come into operation on the day on which the Income Tax Assessment Act 1965 comes into operation.
Repeal.
3.—(1.) The Income Tax and Social Services Contribution (Non-resident Dividends) Act 1959 is repealed.
(2.) The Act repealed by the last preceding sub-section continues in force for all purposes in connexion with income tax and social services contribution payable in accordance with
section 128b of the Income Tax and Social Services Contribution Assessment Act 1936-1959, or of that Act as amended at any time, in respect of income to which that section applied that was derived before the commencement of this Act.
Definition.
4. In this Act, “the Assessment Act” means the Income Tax Assessment Act 1936-1965.
Incorporation.
5. The Assessment Act is incorporated and shall be read as one with this Act.
Imposition of tax.
6. The tax known as income tax, to the extent that that tax is payable in accordance with section 128b of the Assessment Act, is imposed, and shall be levied and paid, upon income to which that section applies.
Rate of tax.
7. The rate of income tax imposed by this Act is thirty per centum.
Sections 104 and 221yb of Assessment Act.
8. For the purposes of sub-section (1.) of section 104, and sub-section (3.) of section 221yb, of the Assessment Act, this Act shall not be deemed to be the Act declaring the rates of income tax payable for the financial year that commenced on the first day of July, One thousand nine hundred and sixty-five, or for any subsequent financial year.