Second Reading Speeches

Treasury Laws Amendment (International Tax Agreements) Bill 2019

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
46

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Summary

Amends the

International Tax Agreements Act 1953
to: give legislative authority to the Convention between the Government of Australia and the Government of the State of Israel for the elimination of double taxation with respect to taxes on income and the prevention of tax evasion and avoidance; and correct an incorrect cross reference to the specific source rule that applies in relation to an earlier agreement with Germany; and
Income Tax Assessment Act 1997
to introduce a deemed source of income rule to ensure that Australia can exercise its taxing rights under the convention and future international tax agreements.