Issued
01 Apr 1972

New Double Tax Agreement with Australia 1972

Archived legislative commentary on the Double Tax Agreement with Australia 1972 from PIB vol 72 Apr 1972.

This commentary item was published in Public Information Bulletin Volume 72, April 1972

More information about Public Information Bulletins.

A new tax agreement has been signed with Australia and will generally take effect in New Zealand from 1 April 1972.

Changes

The new agreement makes a number of changes from the 1960 agreement and in particular-

  • interest going to Australian residents will now be subject to 10% New Zealand tax (unless the Australian recipient controls the payer of the interest)
  • copyright royalties going to Australian residents will now be subject to 15% New Zealand tax.

Old Agreement

The 1960 Agreement will continue to apply in New Zealand up to 31 March 1973 if it gives more favourable treatment than the new agreement.

More Details

Detailed explanatory notes on the new tax agreement are available from any tax office.