Taxation Ruling
IT 2575W - Notice of Withdrawal
Income tax: Malaysian Government service pension - paragraph 18(2) Australia/Malaysia double taxation agreement
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Please note that the PDF version is the authorised version of this withdrawal notice.
Notice of Withdrawal
Taxation Ruling IT 2575 is withdrawn with effect from today.
1. Taxation Ruling IT 2575 is about the tax treatment of a Malaysian Government service pension paid to an Australian resident for previous government service in Malaysia. It concluded that the pension is taxable in Australia subject to any foreign tax credit available to the resident for the tax paid in Malaysia.
2. The Foreign Tax Credit System was repealed and replaced by the Foreign Income Tax Offset System, with effect from 24 September 2007, applicable in relation to income years, statutory accounting periods and notional accounting periods starting on or after 1 July 2008.
3. Accordingly, as IT 2575 is no longer current, it is withdrawn.
Commissioner of Taxation
18 April 2012