Australian Tax Treaties

Swiss Convention  

CONVENTION BETWEEN AUSTRALIA AND THE SWISS CONFEDERATION FOR THE AVOIDANCE OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME, WITH PROTOCOL  

CHAPTER III - TAXATION OF INCOME  

ARTICLE 18   Pensions  

1    
Subject to the provisions of paragraph 2 of Article 19 , pensions, social security payments and annuities paid to a resident of a Contracting State shall be taxable only in that State. However, where such income arises in the other Contracting State and the recipient is not liable to tax in the first-mentioned State in respect of that income, the income may be taxed in that other Contracting State.

2    
Subject to the provisions of paragraph 2 of Article 19 , lump sums arising in a Contracting State and paid to a resident of the other Contracting State under a pension scheme, or in consequence of retirement, invalidity, disability or death, or by way of compensation for injuries, may be taxed in the first-mentioned State.

3    
The term " annuity " means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money ' s worth.