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HMRC internal manual

International Manual

HM Revenue & Customs
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DT Agreements: Australia - Income from a UK source paid to a resident of Australia

UK dividends paid to a resident of Australia - portfolio investor

From 1 July 2004: Article 10 of the 2003 Convention

There is no provision for payment of the tax credit attached to UK dividends.

Before 1 July 2004: Article 8 of the 1968 Agreement

The agreement provides for payment of the excess of UK tax after retention of 15% of theaggregate of net UK dividends plus tax credit to the individual beneficialowner of the dividends who is a resident of Australia.

There is no relief available to companies, executors or trustees.