Commonwealth act

Income Tax and Social Services Contribution (Non-resident Dividends) Act 1959

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

86 of 1959

Collection

act

Plain English Summary

2/10 complexity

What this law does:

This Act imposes a 30% tax on dividends (payments from companies to shareholders) that are paid to people who don't live in Australia (non-residents).

How it works:

It operates alongside the main tax law (the Income Tax and Social Services Contribution Assessment Act 1936-1959), which it refers to as "the Assessment Act."
It specifically targets income covered by section 128b of that main Act.
The tax applies to income derived by non-residents from Australian sources.

Key points:

The rate is fixed at 30%.
This is a "levying Act" — it actually imposes the tax, while the Assessment Act sets up the rules for how to calculate and assess it.
It clarifies that this Act doesn't set the general tax rates for future years (that job belongs to other legislation).

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Current sections

Direct links to the current provisions in Income Tax and Social Services Contribution (Non-resident Dividends) Act 1959.

Income Tax and Social Services Contribution (Non-resident Dividends) Act 1959

INCOME TAX AND SOCIAL SERVICES CONTRIBUTION (NON-RESIDENT DIVIDENDS).

No. 86 of 1959.

An Act to impose Income Tax and Social Services Contribution upon certain Dividends derived by Non-residents.

[Assented to 2nd December, 1959.]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title.

This Act may be cited as the Income Tax and Social Services Contribution (Non-resident Dividends) Act 1959.

Commencement.

This Act shall come into operation on the first day of July, One thousand nine hundred and sixty.

Definition.

In this Act, “the Assessment Act” means the Income Tax and Social Services Contribution Assessment Act 1936-1959.

Incorporation.

The Assessment Act is incorporated and shall be read as one with this Act.

Imposition of tax and contribution.

The tax known as income tax and social services contribution, to the extent that that tax is payable in accordance with section one hundred and twenty-eight b of the Assessment Act, is imposed, and shall be levied and paid, upon income to which that section applies.

Rate of tax.

The rate of income tax and social services contribution imposed by this Act is thirty per centum.

Section 221yb of Assessment Act.

For the purposes of sub-section (3.) of section two hundred and twenty-one yb of the Assessment Act, this Act shall not be deemed to be the Act declaring the rates of income tax and social services contribution payable for the financial year commencing on the first day of July, One thousand nine hundred and sixty, or for any subsequent financial year.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Income Tax and Social Services Contribution (Non-resident Dividends) Act 1959