Taxation Administration Amendment Regulations 2003 (No. 1) (74 of 2003)

Schedule 1   Amendments

[2]   Regulation 42

substitute

42 Royalty payments

The amount to be withheld under section 12-280 or 12-285 of Schedule 1 to the Act from a royalty is:

(a) if the person to whom the royalty is paid, or a foreign resident mentioned in paragraph 12-285 (1) (b) of that Schedule, is a resident of the other party to an international tax sharing treaty that applies to the royalty - the amount calculated at the rate provided for in the treaty; and

(b) if paragraph (a) does not apply, but the person to whom the royalty is paid, or a foreign resident mentioned in paragraph 12-285 (1) (b) of Schedule 1 to the Act, is a resident of the other party to a double tax agreement - the amount calculated at the rate provided for in the agreement; and

(c) if paragraphs (a) and (b) do not apply, but the person to whom the royalty is paid, or a foreign resident mentioned in paragraph 12-285 (1) (b) of that Schedule, is a resident of a country other than Australia - 30% of the amount of the royalty; and

(d) if the person to whom the royalty is paid is a resident of Australia - 30% of the amount of the royalty.


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