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Thursday, 7 November 1946

Mr CHIFLEY (Macquarie) (Prime Minister and Treasurer) . - by ' leave - I lay on the table the following paper : -

Double Taxation - Agreement, signed in London, 29th October, 19:46, between the Government of the United Kingdom and the Government of Australia for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

The agreement was signed in London on the 29th October, 1946, by Dr. Hugh Dalton, Chancellor of the Exchequer, on behalf -of the United Kingdom Government, and by Mr.J. A. Beasley, High Commissioner for Australia, on behalf of the .Australian Government.

The agreement is designed to apply to assessments for the current financial year, but it will not come into actual operation until such time as it has received the endorsement of :the Parliament of each country. The appropriate legislation to give it this endorsement in Australia will be introduced by the Government early in 1947.

In the statement which I 'made to 'the House-on 'the '2nd August 'last, I gave to honorable members a broad outline of the provisions of the agreement. These provisions 'will be -examined in greater detail when the legislation mentioned is ' brought down. Meanwhile, i'f any honorable member -desires enlightenment in regard to any particular phase of the agreement, the 'Commissioner .of Taxation will make has officers .available to supply -whatever information may be required.

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