Australian Tax Treaties
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the MLI) has modified the application of this tax treaty. A synthesised text of the MLI and this tax treaty is available to facilitate the understanding of how the MLI modifies this tax treaty.
With reference to Article 26 (Non-Discrimination) of the Convention:
The provisions of the Article shall not apply to the following provisions of the laws of Australia:
(a) Subdivision A of Division 3 of Part III of the Income Tax Assessment Act 1936 (hereinafter referred to as " ITAA 1936 " ), which provides deductions to eligible taxpayers for research and development;
(b) Section 26-25 of Part 2-5 of Chapter 2 of the Income Tax Assessment Act 1997 (hereinafter referred to as " ITAA 1997 " ), which provides measures to ensure that taxes can be effectively collected and recovered, including conservancy measures under the general law; and
(c) any provision adopted after the date of signature of the Convention which is substantially similar in purpose or intent to a provision covered by this paragraph, or is otherwise agreed between the Governments of the Contracting States through an exchange of diplomatic notes.
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