Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p46
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 46/51)
Character Range: 126023–128637

or those persons in carrying on business in Australia at or
through a permanent establishment of that person or those persons in
Australia.";
  (b) by inserting after subsection (5) the following subsection:
  "(5A) A person who derives income to which this section applies that
consists of a royalty is liable to pay income tax upon that income at the rate
declared by the Parliament in respect of income to which this subsection
applies.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 65
Repeal of Division 13A of Part III

  65. Division 13A of Part III of the Principal Act is repealed.

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 66
Interpretation

  66. Section 221YHZA of the Principal Act is amended:
  (a) by omitting "a royalty payment" from the definition of "natural resource
payment" in subsection (1) and substituting "a payment of, or by way of,
royalty";
  (b) by omitting from subsection (1) the definition of "royalty payment".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 67
Person making natural resource payment to non-resident to ascertain
amount to be deducted in respect of tax

  67. Section 221YHZB of the Principal Act is amended:
  (a) by omitting from subsection (1) ", or a royalty payment,";
  (b) by omitting from paragraph (1)(a) ", or royalty payment, as the case may
be,".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 68
Duties of payers

  68. Section 221YHZC of the Principal Act is amended by omitting from
subsection (1) ", or a royalty payment,".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 69
Interpretation

  69. Section 221YK of the Principal Act is amended by inserting in paragraphs
(3)(a) and (b) "or a royalty" after "interest".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 70
Deductions from dividends, interest and royalties

  70. Section 221YL of the Principal Act is amended:
  (a) by inserting after subsection (2F) the following subsections:
  "(2G) If a royalty is payable by a person, including the Commonwealth, a
State or an authority of the Commonwealth or of a State (the 'royalty payer')
to another person, or to other persons jointly, and:
  (a) that other person, or one or more of those other persons, is or are
shown, in relation to the transaction to which the royalty relates, in any
book, document or record in the possession of or kept or maintained on behalf
of the royalty payer, as having an address outside Australia; or
  (b) the royalty payer is authorised to pay the royalty, either to the person
or persons to whom