Market Taxation Guide - Australia
This Market Taxation Guide (Australia) provides the following details:
- Reference information about all taxes applied at source to securities deposited in Clearstream Banking1; and
- Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Banking.
New and improved tax information and procedures that become available will be included on an ongoing basis.
Important note:
This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether customers or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.
Withholding tax
Debt securities compliant with Section 128F | Holding | Withholding | Relief | Quick | Standard |
No | 0/47%a | ||||
Residents of Australiab | Yes | Yes | Yes | ||
Non- residents of Australia | Yes | Yes | Yes | ||
a. For undisclosed residents of Australia, the maximum rate of withholding tax (47.0%) is applied upon request from the customer.
b. There is no relief at source or reclaim of withholding tax available through Clearstream Banking for undisclosed Australian residents.
Debt securities not compliant with Section 128F | Holding | Withholding | Relief | Quick | Standard |
No | 10/47%a | ||||
Residents of Australiab | Yes | Yes | Yes | ||
Tax-exempt beneficial owners | Yes | Yes | Yes | ||
Non- residents of Australia (not tax-exempt or resident of DTT country) | Yes | Yes | Yes | ||
a. For undisclosed residents of Australia, the maximum rate of withholding tax (47.0%) is applied upon request from the customer.
b. There is no relief at source or reclaim of withholding tax available through Clearstream Banking for undisclosed Australian residents.
Equities, Managed Investment Trusts (MITs)a | Holding | Withholding | Relief | Quick | Standard |
No | 30b/0-45c/47%d | ||||
Residents of Australiae | Yes | Yes | Yes | ||
Tax-exempt beneficial owners | Yes | Yes | Yes | ||
Residents of Double Taxation Treaty (DTT) country | Yes | Yes | Yes | ||
Non- residents of Australia (not tax-exempt or resident of DTT country) | Yes | Yes | Yes | ||
a. Dividend (“unfranked”) and interest components are covered by non-resident or DTT agreements only and not by Exchange of Information (EOI) agreements. For residents of EOI countries, relief at source and reclaim of withholding tax are not available through Clearstream Banking but they may be able to reclaim tax withheld on “other income components” directly via the Australian Tax Office (ATO).
b. For equities.
c. For MITs, depending on the tax components announced.
d. For undisclosed residents of Australia, the maximum rate of withholding tax (47.0%) is applied upon request from the customer.
e. There is no relief at source or reclaim of withholding tax available through Clearstream Banking for undisclosed Australian residents.
Capital gains tax
There is no capital gains tax withheld through Clearstream Banking on securities held in Clearstream Banking. Capital gains tax may however be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.
Stamp Duty
There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.
Notes on tax reclaims
Customers warrant the completeness and accuracy of the information they supply to Clearstream Banking.
It is the customer's responsibility to determine any entitlement to a refund of tax withheld, to complete the forms required correctly and to calculate the amount due. Clearstream Banking is under no obligation to carry out any investigation in respect of such information.
With respect to tax reclaims in general, customers are reminded that Clearstream Banking accepts no responsibility for their acceptance or non-acceptance by the tax authorities of the respective country.
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1. “Clearstream Banking” refers collectively to Clearstream Banking S.A. and Clearstream Banking AG (for Clearstream Banking AG customers using Creation accounts).