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Income Tax (Film Royalties) Act 1977
1Income Tax (Film Royalties) Act 1977
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INCOME TAX (FILM ROYALTIES) ACT 1977
No. 131 of 1977
An Act to impose income tax upon income derived by non-residents in respect of the supply of films and video tapes.
BE IT ENACTED by the Queen, and the Senate and House of Representatives of the Commonwealth of Australia, as follows:
Short title
- This Act may be cited as the Income Tax (Film Royalties) Act 1977.
Commencement
- This Act shall come into operation on the day on which it receives the Royal Assent.
Interpretation
- In this Act, “Assessment Act” means the Income Tax Assessment Act 1936.
Incorporation
- The Assessment Act is incorporated and shall be read as one with this Act.
Imposition of tax
- The tax known as income tax, to the extent that that tax is payable in accordance with section 136a 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 tax imposed by this Act upon income to which section 136a of the Assessment Act applies is 10 per centum.
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