House of Representatives

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon. P.J. Keating, M.P.)

GENERAL OUTLINE

This Bill will amend the Income Tax (International Agreements) Act 1953 to give the force of law in Australia to:

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protocols amending the existing comprehensive double taxation agreements between Australia and Singapore and Australia and France, signed respectively in Canberra on 16 October 1989 and in Paris on 19 June 1989.

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comprehensive double taxation agreements between Australia and Papua New Guinea and Australia and Thailand covering all forms of income flowing between Australia and those countries. The agreement with Papua New Guinea was signed in Canberra on 24 May 1989 and the agreement with Thailand in Canberra on 31 August 1989;