senate
Taxation Laws Amendment Bill (No. 3) 1993
Income tax (Franking deficit) Amendment bill 1993
Income Tax (Franking Deficit) Amendment Act 1993
Explanatory Memorandum
(Circulated by the authority of the Treasurerthe Hon John Dawkins, M.P.)This Memorandum takes account of amendments made by the House of Representatives to the Bill as introduced.Chapter 10 INCOME TAX (INTERNATIONAL AGREEMENTS) ACT 1953
Technical amendments
10.1 This Bill will make a technical correction to Schedule 38 of the Income Tax (International Agreements) Act 1953 to reflect the amended text of the Australia-Vietnam comprehensive double taxation agreement. The amendment will replace in subparagraph 1.(b) of Article 4 (Residence) the word "of" in the phrase "management of any other criterion" with the word "or" [Clauses 118 and 119]
10.2 This amendment will apply to assessments in respect of income of the 1992-93 income year and subsequent income years Clause 120]