Bill
Treasury Laws Amendment (Australia-India Economic Cooperation and Trade Agreement Implementation) Bill 2022
passed, as at 2022-11-23. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2022-09-28
- second reading — 2022-09-28
- second reading — 2022-11-21
- second reading — 2022-11-21
- third reading — 2022-11-21
- introduced — 2022-11-21
- second reading — 2022-11-21
- second reading — 2022-11-22
- second reading — 2022-11-22
- third reading — 2022-11-22
- passed — 2022-11-22
- royal assent — 2022-11-23
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2022-09-28.
This bill would stop Australia from taxing certain payments made by Australian customers to Indian residents for technical services provided remotely.
It would amend the Agreements Act to remove the tax on these payments that currently applies under a double taxation agreement with India.
The change would start on the later of Royal Assent and when the Australia-India Economic Cooperation and Trade Agreement enters into force for Australia, but only if that treaty does come into force.
- Removes Australian tax on payments or credits to Indian residents for remotely provided technical services under Article 12(3)(g) of the Indian agreement.
- Commences on the later of Royal Assent and the entry into force of the AI-ECTA, as announced by the Minister.
- Applies to assessments for income years starting on or after commencement.
Indian residents who receive payments or credits from Australian customers for technical services provided remotely.
Sources
em
billhome
frl act