Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1953:p1
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1953 (pt 1/14)
Character Range: 138404–141003

1953

Division 1 - Principal Act

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 88
Principal Act

  88. In this Part, "Principal Act" means the Income Tax (International
Agreements) Act 1953.*2*
*2* No. 82, 1953, as amended. For previous amendments, see No. 25, 1958; No.
88, 1959; Nos. 19 and 29, 1960; No. 71, 1963; No. 112, 1964; No. 105, 1965;
No. 17, 1966; Nos. 39 and 86, 1967; No. 3, 1968; No. 24, 1969; No. 48, 1972;
Nos. 11 and 216, 1973; No. 129, 1974; No. 119, 1975; Nos. 52, 55 and 143,
1976; No. 134, 1977; No. 87, 1978; Nos. 23 and 127, 1980; Nos. 28, 110, 143
and 154, 1981; Nos. 51 and 57, 1983; Nos. 123 and 125, 1984; Nos. 168 and 173,
1985; Nos. 49, 51 and 112, 1986; No. 165, 1989; No. 121, 1990; Nos. 5, 96 and
214, 1991; and No. 35, 1992.

Division 2 - Amendments relating to royalties

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 89
Withholding tax

  89. Section 17A of the Principal Act is amended:
  (a) by inserting in subsection (l) "or a royalty" after "dividend" (wherever
occurring).
  (b) by adding at the end the following subsection:
  "(4) If:
  (a) a provision ('basic royalty provision') of an agreement is covered by
either of the following subparagraphs:
    (i) paragraph 1 or 2 of Article 12 of the Chinese agreement;
    (ii) a corresponding provision of another agreement; and
  (b) another provision of the agreement expressly excludes particular
royalties ('excluded royalties') from the scope of the basic royalty
provision;
section 128B of the Assessment Act (which deals with liability for withholding
tax) does not apply to the excluded royalties.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 90
Application

  90. The amendments made by this Division apply to withholding tax that
became payable before, or becomes payable on or after, the date of
commencement of this section.

PART 4 - AMENDMENT OF THE INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986

Division 1 - Principal Act

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 91
Principal Act

  91. In this Part, "Principal Act" means the Industry Research and
Development Act 1986.*3*
*3* No. 89, 1986, as amended.  For previous amendments, see No. 59, 1988; No.
167, 1989; No. 35, 1990; and No. 66, 1991.

Division 2 - Amendments relating to finance schemes

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 92
Interpretation

  92. Section 4 of the Principal Act is amended by inserting in
subsection (1) the following definition:
  "'finance scheme guidelines' means guidelines made under section 39EA;".