Australian Tax Treaties

Icelandic Convention  

CONVENTION BETWEEN AUSTRALIA AND ICELAND FOR THE ELIMINATION OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME AND THE PREVENTION OF TAX EVASION AND AVOIDANCE  

CHAPTER III - TAXATION OF INCOME  

ARTICLE 17   Pensions  

1.    
Subject to the provisions of paragraph 2 of Article 18 , pensions and other similar remuneration paid to a resident of a Contracting State shall be taxable only in that State.

2.    
Notwithstanding the provisions of paragraph 1 , pensions and other similar remuneration paid under the social security legislation of a Contracting State, or under any public scheme organised by a Contracting State for social welfare purposes, may be taxed in that State. The provisions of this paragraph shall only apply to payments to an individual who is a national of that Contracting State.

3.    
Notwithstanding the provisions of paragraph 1 , lump sums arising in a Contracting State and paid to a resident of the other Contracting State from a recognised pension fund, under a retirement benefit scheme, or in consequence of retirement, invalidity, disability or death, or by way of compensation for injuries, may be taxed in the first-mentioned State.

4.    
Any alimony or other maintenance payment arising in a Contracting State and paid to a resident of the other Contracting State shall be taxable only in the first-mentioned State.