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
A new tax agreement has been signed with Australia and will generally take effect in New Zealand from 1 April 1972.
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.
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.
Detailed explanatory notes on the new tax agreement are available from any tax office.