Commonwealth Numbered Acts

INCOME TAX (INTERNATIONAL AGREEMENTS) AMENDMENT ACT 1976 No. 52 of 1976 - SECT 6

6. (1) After section 11 of the Principal Act the following section is
inserted:- Agreement with the Kingdom of the Netherlands.
''11A. (1) Subject to this Act, on and after the date of entry into force of
the Netherlands agreement, the provisions of the agreement, so far as those
provisions affect Australian tax, have, and shall be deemed to have had, the
force of law-

   (a)  in relation to withholding tax-in respect of dividends or interest
        derived on or after 1 July 1975 and in relation to which the agreement
        remains effective; and

   (b)  in relation to tax other than withholding tax-in respect of income of
        the year of income that commenced on 1 July 1975 and of a subsequent
        year of income in relation to which the agreement remains effective.

''(2) As soon as practicable after the date of entry into force of the
Netherlands agreement in accordance with Article 29 of the agreement, the
Treasurer shall cause to be published in the Gazette a notice specifying the
date on which the agreement entered into force, and the date so notified
shall, for the purposes of this Act, be conclusively presumed to be the date
of entry into force of the agreement.

''(3) For the purposes of the Assessment Act, income from a lease of land,
income from any other direct interest in or over land, whether or not
improved, and income from debt-claims of every kind, excluding bonds or
debentures, secured by mortgage of real property or of any other direct
interest in or over land, being income that under Article 6 of the Netherlands
agreement is to be regarded as income from real property, shall be deemed to
be derived from sources in the place in which the land to which the lease,
other direct interest or mortgage relates is situated.''.

(2) The Commissioner may amend an assessment made before the date of entry
into force of the Netherlands agreement for the purpose of giving effect to
sub-section 11A (1) of the Principal Act as amended by this Act.