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Taxation Laws Amendment (International
Agreements) Act 1990

No. 121 of 1990

An Act to amend the law relating to taxation

[Assented to 28 December 1990]

  The Parliament of Australia enacts:

PART 1—PRELIMINARY

Short title

1. This Act may be cited as the Taxation Laws Amendment (International Agreements) Act 1990.

20349/91 Cat. No. 91 3102 2

Commencement

2. (1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.

(2) Section 8 and Part 3 are taken to have commenced on the day on which the Income Tax (International Agreements) Amendment Act (No. 2) 1989 received the Royal Assent.

PART 2—AMENDMENT OF THE INCOME TAX
(INTERNATIONAL AGREEMENTS) ACT 1953

Principal Act

3. In this Part, "Principal Act" means the Income Tax (International Agreements) Act 19531.

Interpretation

4. Section 3 of the Principal Act is amended by inserting in subsection (1) the following definitions:

" 'the Chinese agreement' means the Agreement between the Government of Australia and the Government of the People's Republic of China for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, being the agreement a copy of which in the English language is set out in Schedule 28;

'the Fijian agreement' means the Agreement between Australia and Fiji for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, being the agreement a copy of which is set out in Schedule 32;

'the Sri Lankan agreement' means the Agreement between Australia and the Democratic Socialist Republic of Sri Lanka for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, being the agreement a copy of which in the English language is set out in Schedule 31;".

5. After section 11r of the Principal Act the following section is inserted:

Agreement with the People's Republic of China

"11s. (1) Subject to this Act, on and after the date of entry into force of the Chinese agreement, the provisions of the agreement, so far as those provisions affect Australian tax, have the force of law according to their tenor.

"(2) For the purposes of the Assessment Act, income, profits or gains derived by a person who is a resident of China for the purposes of the Chinese agreement, being income, profits or gains that under

Articles 6 to 8, 10 to 17 and 19 to 22 of the agreement may be taxed in Australia, are taken to be derived from sources in Australia.

"(3) The provisions of the Chinese agreement do not have the effect of subjecting to Australian tax any interest or royalties paid by a resident of Australia