Business Services Industry
[1054] Royalty withholding tax on non-resident lessor of equipment.
Australasian Business Intelligence, June, 2007
Byline: Terry Hayes
Jun 20, 2007 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office (ATO) issued Draft Taxation Determination TD 2007/D12 on 6 June 2007. "Royalty withholding tax on non-resident lessor of equipment", for which the ATO is seeking feedback by 6 July 2007, states a non-resident head lessor of large equipment who receives payments from a Singaporean sub-lessor is to be liable for the payment of royalty withholding tax under the Income Tax Assessment Act 1936. The ATO notes that an exception to this ruling is where the non-resident head lessor is a UK or US resident.
Publication Date: 8 June 2007
AUSTRALIAN TAXATION OFFICE
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