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Go Matilda - Your Gateway to Australia The Go Matilda Forums The Go Matilda Forums The Tax and Money Forum Can anyone explain ARTICLE 13 Paragraph 5 in the UK\Oz Double Tax in laymans terms ?
The Go Matilda Forums The Go Matilda Forums The Tax and Money Forum Can anyone explain ARTICLE 13 Paragraph 5 in the UK\Oz Double Tax in laymans terms ?|
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An individual who elects, under the taxation law of a Contracting State to defer taxation on income or gains relating to property which would otherwise be taxed in that State upon the individal ceasing to be a resident of that State for the purpose of its tax, shall if the individual is a resident of the other State, be taxable on the income or gains from the subsequent alienation of that property only in that other state.
Two questions Whats the definition and examples of the word "property" in this context ?? Also When they say individual who elects, under the taxation law of a Contracting State to defer taxation. Are they talking about through concessions or through schemes or any method at all? |
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What the hell are you babbling on about?.Just go to oz and enjoy yourself...
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far too complex to post here it is residual in form - however look at the two competing concepts of income for tax law purposes (economic and perspective) & the diminishing influence of the flow concept.
Also look at the jurisdictional rules stated for residents and non-residents. Plus sec 6(1) ITAA 36. Article 13 ensures that the United Kingdom taxing right is protected in respect of income or gains from the alienation of any property of a person who is, or has been, a resident of the United Kingdom during the year in which the property is alienated or during the six years immediately preceding that year. |
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Wow !I bet you drink Carling Black Label! |
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Go Matilda - Your Gateway to Australia The Go Matilda Forums The Go Matilda Forums The Tax and Money Forum Can anyone explain ARTICLE 13 Paragraph 5 in the UK\Oz Double Tax in laymans terms ?
The Go Matilda Forums The Go Matilda Forums The Tax and Money Forum Can anyone explain ARTICLE 13 Paragraph 5 in the UK\Oz Double Tax in laymans terms ?© The Go Matilda Trading Company Limited 2002
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