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

Act No. 27 of 1974 as amended

This compilation was prepared on 28 September 2007 taking into account amendments up to Act No. 143 of 2007

The text of any of those amendments not in force on that date is appended in the Notes section

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing, Attorney-General’s Department, Canberra

Contents

An Act to impose Income Tax upon certain Dividends, Interest and Royalties derived by Non-residents and by certain other Persons
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:

 a

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

 b

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

 c

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
Act Number and year Date of Assent Date of commencement Application, saving or transitional provisions
Income Tax (Dividends and Interest Withholding Tax) Act 1974 27, 1974 1 Aug 1974 1 Aug 1974
Income Tax (Dividends and Interest Withholding Tax) Amendment Act 1992 199, 1992 21 Dec 1992 24 Dec 1992 (see s. 2) —
Tax Laws Amendment (2007 Measures No. 4) Act 2007 143, 2007 24 Sept 2007 Schedule 7 (items 69–72): Royal Assent —

Table of Amendments
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted
Provision affected How affected
Title am. No. 199, 1992
S. 1 am. No. 199, 1992
S. 3 rep. No. 143, 2007
S. 4 am. No. 143, 2007
S. 6 rs. No. 199, 1992
S. 7 am. No. 199, 1992; No. 143, 2007
S. 8 rep. No. 143, 2007