Taxation (Interest on Overpayments and Early Payments) Regulations 1992

Taxation (Interest on Overpayments and Early Payments) Regulations 1992

Statutory Rules 1992 No. 178 as amended

made under the

Taxation (Interest on Overpayments) Act 1983

This compilation was prepared on 14 September 2006
taking into account amendments up to SLI 2006 No. 216

Prepared by the Office of Legislative Drafting,
Attorney‑General’s Department, Canberra

Contents

 1 Name of Regulations [see Note 1]

 2 Commencement 

 3 Interpretation 

 5 Prescribed economic double tax correlative relief provisions (Act, paragraph 3A (1) (b))             

 6 Prescribed manner of operation of business profits provisions — juridical double tax relief (Act, paragraph 3A (1) (b))             

 7 Prescribed economic double tax correlative relief provisions (Act, paragraph 3A (2) (b))             

 8 Prescribed manner of operation of business profits provisions — juridical double tax relief (Act, paragraph 3A (2) (b))             

Schedule 1 Provisions of double tax agreements prescribed for the purpose of paragraph 3A (1) (b) of the Act             

Schedule 2 Provisions of double tax agreements for which the manner of operation is prescribed for the purpose of paragraph 3A (1) (b) of the Act             

Schedule 3 Provisions of double tax agreements for which the manner of operation is prescribed for the purpose of paragraph 3A (1) (b) of the Act             

Notes   

1 Name of Regulations [see Note 1]

  These Regulations are the Taxation (Interest on Overpayments and Early Payments) Regulations 1992.

2 Commencement

  These Regulations commence on 1 July 1992.

3 Interpretation

 (1) In these Regulations, the Act means the Taxation (Interest on Overpayments and Early Payments) Act 1983.

 (2) A reference in these Regulations to a double tax agreement by name is a reference to the agreement so described in subsection 3 (1) of the International Tax Agreements Act 1953.

5 Prescribed economic double tax correlative relief provisions (Act, paragraph 3A (1) (b))

  For the purposes of paragraph 3A (1) (b) of the Act, the provisions of the double tax agreements listed in Schedule 1 are prescribed.

6 Prescribed manner of operation of business profits provisions — juridical double tax relief (Act, paragraph 3A (1) (b))

 (1) For the purposes of paragraph 3A (1) (b) of the Act, the following manner of operation of the provisions of the double tax agreements listed in Schedule 2 is prescribed:

 (a) in the case that the taxpayer is a resident of Australia — if the provision has been applied in a manner which increases the profits of the taxpayer which are attributable to a permanent establishment in the other Contracting State; or

 (b) in the case that the taxpayer is not a resident of Australia — if the provision has been applied in a manner which decreases the profits of the taxpayer which are attributable to a permanent establishment in Australia.

 (2) In subregulation (1), unless the contrary intention appears, profits includes:

 (a) industrial or commercial profits within the meaning of:

 (i) the Japanese agreement; or

 (ii) the United Kingdom agreement; or

 (iii) the 1960 New Zealand agreement; or

 (iv) the 1972 New Zealand agreement; or

 (v) the previous Canadian agreement; or

 (vi) the previous United Kingdom agreement; or

 (vii) the previous United States convention; or

 (b) income or profits within the meaning of the Malaysian agreement; or

 (c) business profits within the meaning of the United States convention.

 (3) For the purposes of paragraph 3A (1) (b) of the Act, the following manner of operation of the provisions of the double tax agreements listed in Schedule 3 is prescribed:

 (a) in the case that the taxpayer is a resident of Australia — if the provision has been applied in a manner which results in an increase in:

 (i) the profits of the taxpayer which are attributable to a permanent establishment in the other Contracting State; or

 (ii) the profits attributable to the sales in the other Contracting State of goods or merchandise of the same or similar kind as those sold through that permanent establishment; or

 (iii) the profits attributable to other business activities carried on in the other Contracting State of the same or similar kind as those carried on through that permanent establishment; or

 (b) in the case that the taxpayer is not a resident of Australia — if the provision has been applied in a manner which results in a decrease in:

 (i) the profits of the taxpayer which are attributable to a permanent establishment in Australia; or

 (ii) the profits attributable to the sales in Australia of goods or merchandise of the same or similar kind as those sold through that permanent establishment; or

 (iii) the profits attributable to other business activities carried on in Australia of the same or similar kind as those carried on through that permanent establishment.

7 Prescribed economic double tax correlative relief provisions (Act, paragraph 3A (2) (b))

  For the purposes of paragraph 3A (2) (b) of the Act, Article 9 (paragraph (3)) of the Vietnamese agreement is prescribed.

8 Prescribed manner of operation of business profits provisions — juridical double tax relief (Act, paragraph 3A (2) (b))

  For the purposes of paragraph 3A (2) (b) of the Act, the following manner of operation of Article 7 of the Vietnamese agreement is prescribed:

 (a) in the case that the taxpayer is a resident of Australia — if the paragraph applies in a manner which increases the profits of the taxpayer which are attributable to a permanent establishment in the primary foreign country; or

 (b) in the case that the taxpayer is not a resident of Australia — if the paragraph applies in a manner which decreases the profits of the taxpayer which are attributable to a permanent establishment in Australia.

Schedule 1 Provisions of double tax agreements prescribed for the purpose of paragraph 3A (1) (b) of the Act

(regulation 5)

Schedule 2 Provisions of double tax agreements for which the manner of operation is prescribed for the purpose of paragraph 3A (1) (b) of the Act

(subregulation 6 (1))

Schedule 3 Provisions of double tax agreements for which the manner of operation is prescribed for the purpose of paragraph 3A (1) (b) of the Act

(subregulation 6 (3))

Notes to the Taxation (Interest on Overpayments and Early Payments) Regulations 1992

Note 1

The Taxation (Interest on Overpayments and Early Payments) Regulations 1992 (in force under the Taxation (Interest on Overpayments) Act 1983) as shown in this compilation comprise Statutory Rules 1992 No. 178 amended as indicated in the Tables below.

Under the Legislative Instruments Act 2003, which came into force on 1 January 2005, it is a requirement for all non-exempt legislative instruments to be registered on the Federal Register of Legislative Instruments. From 1 January 2005 the Statutory Rules series ceased to exist and was replaced with Select Legislative Instruments (SLI series). Numbering conventions remain the same, ie Year and Number.

Table of Statutory Rules

Table of Amendments