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Interest Withholding Tax - Exemption of Commonwealth Government Securities


Friday, 21 August 2009

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On 21 August 2009, the Treasurer announced that the Government will change the interest withholding tax (IWT) arrangements applying to debt issued by the Commonwealth Government.

The new arrangements will provide an exemption from IWT available to Commonwealth issued debt.

Making a submission

Interested parties are invited to comment on the Exposure Draft Legislation and the Draft Explanatory Statement. While submissions may be lodged electronically, by post or by facsimile, electronic lodgment is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence.  Automatically generated confidentiality statements in emails do not suffice for this purpose.  Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.  A request made under the Freedom of Information Act 1982 (Commonwealth) for a submission marked 'confidential' to be made available will be determined in accordance with that Act.

Closing date for submissions: Friday, 28 August 2009

Address written submissions to:
International Tax Unit
International Tax and Treaties Division
The Treasury
Langton Crescent

Email:  iwtcgs@treasury.gov.au

For inquiries, please call (02) 6263 3362.

Documents Available:

Acrobat (PDF) documents

 Acrobat (PDF)

Exposure Draft Legislation  25.78kb
Draft Explanatory Statement  27.47kb
Consultation Summary  29.47kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Exposure Draft Legislation  72.39kb
Draft Explanatory Statement  150.85kb
Consultation Summary  841.13kb

Related Items:

Submissions: Interest Withholding Tax - Exemption of Commonwealth Government Securities - 1/09/2009

Treasury received one submission in response to the exposure draft legislation and draft explanatory statement concerning the removal of interest withholding tax on Commonwealth Government Securities. This is a public submssion and is accessible by selecting the author.

The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or the Treasury.

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