ATO National Tax Equivalent Regime
PART 4: NTER GENERAL FEATURES
COMMENCEMENT DATE OF THE NTER
FEDERAL INCOME TAX LAWS
27. The NTER is based on the federal income tax laws, listed at Attachment 4, which are to be strictly observed by NTER entities except to the extent that those laws are expressly altered or modified by this Manual.
RELEVANT TAXATION LAWS
28. The relevant taxation laws are comprised of the federal income tax laws and the modifications thereto set out in this Manual. The relevant taxation laws constitute the administrative and technical rules to be applied in the NTER and to which NTER entities are to comply.
AVOIDANCE OF DOUBLE TAXATION
- NTER entities are not, through the NTER, subjected to actual federal income taxes; and
- NTER entities are not subjected to double taxation involving an actual federal tax liability and an NTER tax equivalent liability in respect of the same item of income or expenditure.
30. To the extent that an actual income tax liability (i.e. non NTER tax equivalent), or double taxation, occurs then application for relief from the NTER tax equivalent liability should be lodged with the Commissioner. Such applications are to be in writing and provide all the relevant circumstances. The Commissioner will consider any such application received, and will provide relief as appropriate in accordance with this Manual.
|[Archived: History notes for amendments to the Manual made by Versions 2, 3, 4, 5 & 6 have been archived. For the wording of these history notes, see Version 8 12 February 2012]|