Australian Tax Treaties
Jersey Agreement
AGREEMENT BETWEEN THE GOVERNMENT OF AUSTRALIA AND THE GOVERNMENT OF JERSEY FOR THE ALLOCATION OF TAXING RIGHTS WITH RESPECT TO CERTAIN INCOME OF INDIVIDUALS AND TO ESTABLISH A MUTUAL AGREEMENT PROCEDURE IN RESPECT OF TRANSFER PRICING ADJUSTMENTS
ARTICLE 5
Pensions and Retirement Annuities
1
Pensions (including government pensions) and retirement annuities paid to an individual who is a resident of a Party shall be taxable only in that Party. However, pensions and retirement annuities arising in a Party may be taxed in that Party where such income is not subject to tax in the other Party.
2
The term " retirement annuity " means:
(a) in the case of Australia, a superannuation annuity payment within the meaning of the taxation laws of Australia;
(b) in the case of Jersey, a retirement annuity contract approved by the Comptroller of Income Tax in accordance with the provisions of the taxation laws of Jersey; and
(c) any other similar periodic payment agreed upon by the competent authorities.
Pensions (including government pensions) and retirement annuities paid to an individual who is a resident of a Party shall be taxable only in that Party. However, pensions and retirement annuities arising in a Party may be taxed in that Party where such income is not subject to tax in the other Party.
2
The term " retirement annuity " means:
(a) in the case of Australia, a superannuation annuity payment within the meaning of the taxation laws of Australia;
(b) in the case of Jersey, a retirement annuity contract approved by the Comptroller of Income Tax in accordance with the provisions of the taxation laws of Jersey; and
(c) any other similar periodic payment agreed upon by the competent authorities.
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