Market Taxation Guide - Australia (CEU)

This Market Taxation Guide (Australia) provides the following details:

Reference information about all taxes applied at source to securities deposited in Clearstream Europe¹; and
Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Europe.

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 clients 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 restriction	Withholding tax rate	Relief at source	Quick refund	Standard refund
Debt securities compliant with Section 128F	No	0/47%^a
Residents of Australia^b			Yes	No	Yes
Non- residents of Australia			Yes	No	Yes

a. For undisclosed residents of Australia, the maximum rate of withholding tax (47.0%) is applied upon request from the client.
b. There is no relief at source or reclaim of withholding tax available through Clearstream Europe for undisclosed Australian residents.

Debt securities not compliant with Section 128F	Holding restriction	Withholding tax rate	Relief at source	Quick refund	Standard refund
Debt securities not compliant with Section 128F	No	10/47%^a
Residents of Australia^b			Yes	No	Yes
Tax-exempt beneficial owners			Yes	No	Yes
Non- residents of Australia (not tax-exempt or resident of DTT country)			Yes	No	Yes

Equities, Managed Investment Trusts (MITs)^a	Holding restriction	Withholding tax rate	Relief at source	Quick refund	Standard refund
Equities, Managed Investment Trusts (MITs)^a	No	30^b/0-45^c/47%^d
Residents of Australia^e			Yes	No	Yes
Tax-exempt beneficial owners			Yes	No	Yes
Residents of Double Taxation Treaty (DTT) country			Yes	No	Yes
Non- residents of Australia (not tax-exempt or resident of DTT country)			Yes	No	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 Europe 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 client.
e. There is no relief at source or reclaim of withholding tax available through Clearstream Europe for undisclosed Australian residents.

Capital gains tax

There is no capital gains tax withheld through Clearstream Europe on securities held in Clearstream Europe. Capital gains tax may however be payable on specific gains. Clearstream Europe does not assist in this regard. Please consult your tax advisor for further information.

Stamp Duty

There is no stamp duty withheld through Clearstream Europe on securities held in Clearstream Europe. Stamp duty may however be payable on specific transactions. Clearstream Europe does not assist in this regard. Please consult your tax advisor for further information.

Notes on tax reclaims

Clients warrant the completeness and accuracy of the information they supply to Clearstream Europe.

It is the client'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 Europe is under no obligation to carry out any investigation in respect of such information.

With respect to tax reclaims in general, clients are reminded that Clearstream Europe accepts no responsibility for their acceptance or non-acceptance by the tax authorities of the respective country.

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1. Clearstream Europe refers to Clearstream Europe AG (for Clearstream Europe AG clients using Creation accounts)