AUSTRALIAN TAX TREATIES

Canadian Convention  

PROTOCOL AMENDING THE CONVENTION BETWEEN AUSTRALIA AND CANADA FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME  

ARTICLE 1  
Article 2 of the Convention shall be deleted and replaced by the following:

" ARTICLE 2 Taxes Covered  


(1)
The existing taxes to which this Convention shall apply are:


(a) in the case of Australia:
the income tax, and the resource rent tax in respect of offshore projects relating to exploration for or exploitation of petroleum resources, imposed under the federal law of Australia;


(b) in the case of Canada:
the income taxes imposed by the Government of Canada under the Income Tax Act.


(2)
This Convention shall apply also to any identical or substantially similar taxes which are imposed under the federal law of Australia or the law of Canada after the date of signature of this Convention in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall notify each other of any substantial changes which have been made in the law of their respective States relating to the taxes to which this Convention applies within a reasonable period of time after those changes. " .




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