Australia Double Tax Agreement With Hong Kong

As a general rule, free trade agreements are accompanied by a comprehensive double taxation convention. We hope that this will be the case for Australia. Here you will find information on international tax treaties for residents and non-residents of Australia. We have included general information on tax treaties, other international tax agreements and bilateral pension agreements. 2 The multilateral instrument acquires the force of res judicata by the International Tax Agreements Act 1953. Its entry into force was notified on 10 January 2019 in accordance with Article 4A. The explanatory memorandum can be found in the OECD Multilateral Instrument Bill 2018. Non-Australian residents who earn Australian interest and uneven dividends are subject to a withholding tax of 10% and 30% respectively. Australia has a number of bilateral pension agreements with other countries. Here are the details of the agreements Australia currently has, including: Hong Kong currently has FTA agreements with mainland China, New Zealand, Iceland, Liechtenstein, Norway, Switzerland, Chile, Macau, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam and Georgia. Hong Kong has also concluded negotiations with the Maldives and Australia.

This brings Hong Kong`s total number of FTA agreements to 21. Hong Kong has also entered into a networked double taxation agreement with its trading partners to provide double taxation relief to Hong Kong investors and businesses. More details on the tax website. [1] In certain circumstances, where a company has a sufficient connection to Australia, the benefit granted to an employee by a foreign company may not be taxable to the worker. Hong Kong has also concluded 20 existing AI agreements with Australia, Austria, Belgium, Luxembourg, Canada, Chile, Denmark, Finland, France, Germany, Italy, Japan, the Republic of Korea, Kuwait, the Netherlands, New Zealand, Sweden, Switzerland, Thailand and the United Kingdom. Remember that you can still be an Australian tax resident, even if you haven`t been physically present in Australia all year.