Income Tax (Dividends, Interest and Royalties Withholding Tax) Act 1974

1 Short title [see Note 1]

This Act may be cited as the Income Tax (Dividends, Interest and Royalties Withholding Tax) Act 1974.

2 Commencement [see Note 1]

This Act shall come into operation on the day on which it receives the Royal Assent.

4 Definition

In this Act, the Assessment Act means the Income Tax Assessment Act 1936.

5 Incorporation

The Assessment Act is incorporated and shall be read as one with this Act.

6 Imposition of tax

The tax known as income tax, to the extent that that tax is payable in accordance with section 128B of the Assessment Act, is imposed on income to which that section applies.

7 Rates of tax

The rates of income tax imposed by this Act are:

in respect of income to which subsection 128B(4) of the Assessment Act applies—30%; and

in respect of income to which subsection (5) of that section applies—10%; and

in respect of income to which subsection (5A) of that section applies—30%.

Notes to the

Note 1

The Income Tax (Dividends, Interest and Royalties Withholding Tax) Act 1974 as shown in this compilation comprises Act No. 27, 1974 amended as indicated in the Tables below.

Table of Acts

Table of Amendments