Income Tax (Non-resident Dividends and Interest) Act 1973
No. 167 of 1973
AN ACT
To amend the Income Tax (Non-resident Dividends and Interest) 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 Section 7 of the Income Tax (Non-resident Dividends and Interest) Act 1967 is repealed and the following section substituted:—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.”.