Taxation Ruling

IT 2066A - Addendum

Double taxation agreement with France

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FOI status:

ADDENDUM

Taxation Ruling IT 2066 has been amended as follows;

Paragraph 13, line 3, replace ' 38% ' with '35% generally'.

Interest paid to resident and non-resident creditors is generally subject to a withholding tax of 35%. However, numerous exceptions exist and the withholding tax may be levied at higher or lower rates depending on the type of interest involved. Significant categories of interest payments which are exempt when paid to non-residents include interest on loans contracted abroad, on state bonds issued on or after 1 October 1984, on corporate bonds issued on or after 1 January 1987 and on certain negotiable debt instruments which are traded on a regulated market but cannot be quoted on a stock exchange (e.g. "billets de tresorerie", "certificats de depots", "bons IFS").

Commissioner of Taxation
8/9/94

References

BO CHA P/FRENCH AGREEMENT

Related Rulings/Determinations:

IT 2066