International Tax Agreements Amendment Act 2014 (Cth)

International Tax Agreements Amendment Act 2014

No. 105, 2014

An Act to amend the law relating to taxation, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1—Amendments Part 1—Convention with Switzerland International Tax Agreements Act 1953 Part 2—Other amendments International Tax Agreements Act 1953

International Tax Agreements Amendment Act 2014 No. 105, 2014

An Act to amend the law relating to taxation, and for related purposes

[Assented to 24 September 2014]

The Parliament of Australia enacts:

1 Short title This Act may be cited as the International Tax Agreements Amendment Act 2014.

2 Commencement This Act commences on the day this Act receives the Royal Assent.

3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments

Part 1—Convention with Switzerland

International Tax Agreements Act 1953

1 Subsection 3AAA(1) (definition of Swiss agreement) Repeal the definition.

2 Subsection 3AAA(1) Insert: Swiss convention means: (a) the Convention between Australia and the Swiss Confederation for the Avoidance of Double Taxation with respect to Taxes on Income; and (b) the protocol to that convention; each done at Sydney on 30 July 2013. Note: In 2013, the text of this convention and protocol was accessible through the Australian Treaties Library on the AustLII website (www.austlii.edu.au).

3 Subsection 3AAB(1) Insert: Swiss 1980 agreement means: (a) the Agreement between Australia and Switzerland for the avoidance of double taxation with respect to taxes on income; and (b) the protocol to that agreement; each done at Canberra on 28 February 1980. Note 1: The text of this agreement and protocol is set out in Australian Treaty Series 1981 No. 5 ([1981] ATS 5). Note 2: Section 11E continues to give this agreement and protocol the force of law in respect of certain income or fringe benefits.