13 Dec 10 Regs made to include Gibraltar and Guernsey in countries having exchange of information arrangements
Taxation Administration Amendment Regulations 2010 (No 4) was made on 8 December 2010 and registered on the Federal Register of Legislative Instruments on 9 December 2010 as Select Legislative Instrument 2010 No 335.
The Regulations amend the Taxation Administration Regulations 1976 to update the list of countries with whom Australia has effective exchange of information arrangements for tax purposes with to include Gibraltar and Guernsey. This list is relevant for calculating the amount to be withheld from a fund payment by the trustee of a managed investment trust (MIT) or custodian, or by another entity.
The Regulations commence on 1 January 2011.
For a copy of the Explanatory Statement, click on ES/Supp Material