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International Tax Agreements Amendment Bill (No. 1) 2006

Schedule 2 Exchange of information

   

International Tax Agreements Act 1953

1  After section 22

Insert:

23   Gathering and exchanging information

             (1)  The Commissioner or an officer authorised by the Commissioner may use the information gathering provisions for the purpose of gathering information to be exchanged in accordance with the Commissioner’s obligations under an international agreement.

             (2)  Making a record of, and exchanging, information in accordance with the Commissioner’s obligations under an international agreement is not a breach of a provision of a taxation law that prohibits the Commissioner or an officer from making a record of, or disclosing, information.

Example:    An example of such a provision is section 3C of the Taxation Administration Act 1953 .

             (3)  Subsections (1) and (2) have effect whether or not the information relates to Australian tax.

             (4)  In this section:

information gathering provision means a provision of a taxation law that allows the Commissioner:

                     (a)  to access land, premises, documents, information, goods or other property; or

                     (b)  to require or direct a person to provide information; or

                     (c)  to require or direct a person to appear before the Commissioner or an officer and give evidence or produce documents.

international agreement means:

                     (a)  an agreement given the force of law under this Act; or

                     (b)  some other agreement that allows for the exchange of information on tax matters between Australia and:

                              (i)  a foreign country or a constituent part of a foreign country; or

                             (ii)  an overseas territory.

taxation law has the same meaning as in the Income Tax Assessment Act 1997 .

Taxation Administration Act 1953

2  At the end of subsection 3C(2)

Add:

Note:          It is not a breach of subsection (2) to record or disclose information in accordance with an obligation Australia has under an agreement with another country. See section 23 of the International Tax Agreements Act 1953 .

3  Paragraphs 3C(2A)(b) and (c)

Repeal the paragraphs, substitute:

                     (b)  in the performance of the person’s duties as an officer.

4  Paragraph 355-5(4)(a) in Schedule 1

Repeal the paragraph, substitute:

                     (a)  the making of the record or the disclosure is for the purposes of an * indirect tax law; or

5  Subsection 355-5(4) in Schedule 1 (note)

Omit “Note”, substitute “Note 1”.

6  At the end of subsection 355-5(4) in Schedule 1

Add:

Note 2:       It is not a breach of subsection (2) to record or disclose information in accordance with an obligation Australia has under an agreement with another country. See section 23 of the International Tax Agreements Act 1953 .

7  Application

The amendments made by this Schedule apply to requests for the exchange of information made after the day on which this Act receives the Royal Assent.