International Tax Agreements Act 1953
(Repealed by No 45 of 2011)
Sch 10A repealed by No 45 of 2011, s 3 and Sch 1 item 67, to remove the text of the Second Protocol to Netherlands Agreement from this Act, effective 27 June 2011. For transitional provisions see note under s 3(1) . Sch 10A formerly read:
SCHEDULE 10A - Second Protocol to Netherlands Agreement
Section 3SECOND PROTOCOL AMENDING THE AGREEMENT BETWEEN AUSTRALIA AND THE KINGDOM OF THE NETHERLANDS FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME WITH PROTOCOL
Article 6 of the Agreement shall be amended by deleting the second sentence of paragraph (2).
Article 11 of the Agreement shall be amended by omitting paragraph (3) and substituting the following paragraph:
" (3) The term ' interest ' in this Article includes interest from Government securities, or from bonds or debentures, whether or not secured by mortgage and whether or not carrying a right to participate in profits, and interest from any other form of indebtedness as well as all other income assimilated to interest or to income from money lent by the taxation law of the State in which the income arises. The term does not include income to which Article 10 applies. "
This Protocol, which shall form an integral part of the Agreement, shall enter into force on the first day of the second month after the date on which the Contracting States exchange notes through the diplomatic channel notifying each other that the last of such things has been done as is necessary to give this Protocol the force of law in Australia and in the Kingdom of the Netherlands respectively, and thereupon this Protocol shall have effect -
(a) in relation to income from debt claims of every kind, excluding bonds or debentures, secured by mortgage of real property or of any other direct interest in or over land, in pursuance of a contractual obligation entered into before the date of signature of this Protocol -
(i) in Australia, in respect of tax on income of any year of income beginning on or after the date of commencement of the eighteenth month following that in which signature of the Protocol occurs;
(ii) in the Netherlands, in respect of taxes for taxable years and periods beginning on or after the date of commencement of the eighteenth month following that in which signature of the Protocol occurs;
(b) in any other case, including those referred to in paragraph (2) -
(i) in Australia, in respect of tax on income of any year of income beginning on or after 1 July 1986;
(ii) in the Netherlands, in respect of taxes for taxable years and periods beginning on or after 1 January 1986.
Subparagraph (1)(a) does not apply in relation to -
(a) income which is derived before the commencement of the first year of income or the first taxable year or period, as the case may be, determined in accordance with that subparagraph, to the extent to which that income is attributable to that or any subsequent year or period; or
(b) income derived pursuant to a contractual obligation where the terms of that obligation are varied, after the date of signature of this Protocol, so as to extend or have the effect of extending the date on which repayment of the relevant debt is due.
IN WITNESS WHEREOF the undersigned, duly authorised thereto, have signed this Protocol.
DONE in duplicate at Canberra this thirtieth day of June, One thousand nine hundred and eighty-six, in the English and Netherlands languages, both texts being equally authentic.
C. H. A. PLUG
FOR THE KINGDOM OF THE NETHERLANDS
Sch 10A inserted by No 112 of 1986. The Second Protocol to the Netherlands Agreement came into force on 1 May 1987.