Supplementary Explanatory MemorandumAmendment to be moved on behalf of the Government (Circulated by authority of the Treasurer, the Hon Peter Costello, MP)
General outline and financial impact
Amends item 34 of Part 3 of Schedule 1 of the Taxation Laws Amendment Bill (No.6) 1999 (TLAB 6) to:
- address the technical omission from its scope of taxation agreements that are with territories, rather than countries; and,
- ensure that the original amendments concerning income from spectrum licences derived through a permanent establishment apply in relation to taxation agreements generally, whether they have entered into force before the amending provisions of TLAB 6, or do so later.
Main points: The amendment does not change the regulation impact statement (RIS) contained in the explanatory memorandum (EM) to TLAB 6.
Policy Objective: The amendment does not change the RIS contained in the EM to TLAB 6.
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