International Tax Agreements Amendment Act (No. 1) 2011 (45 of 2011)
Schedule 1 Existing agreements
Part 1 Amendments
International Tax Agreements Act 1953
2 Subsection 3(1)
Repeal the subsection, substitute:
(1) In this Act:
agreement means a treaty or other agreement described in section 3AAA (about current agreements) or 3AAB (about agreements for earlier periods).
Note: Most of the conventions, protocols and other agreements described in these sections are set out in the Australian Treaty Series. In 2011, the text of an agreement in the Australian Treaty Series was accessible through the Australian Treaties Library on the AustLII website (www.austlii.edu.au).
Assessment Act means the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997.
Australian tax means:
(a) income tax imposed as such by an Act; or
(b) fringe benefits tax imposed by the Fringe Benefits Tax Act 1986.
Note: This includes Medicare levy (see subsection (10)).
foreign tax means tax, other than Australian tax, which is the subject of an agreement.
prescribed trust estate , in relation to a year of income, means a trust estate that:
(a) is a corporate unit trust, within the meaning of Division 6B of Part III of the Income Tax Assessment Act 1936, in relation to the year of income; or
(b) is a public trading trust, within the meaning of Division 6C of Part III of that Act, in relation to the year of income.