Taxation Administration Act 1953

If:

interest (within the meaning of Division 11A of Part III of the Income Tax Assessment Act 1936) is payable to:

an entity that is, or entities at least one of whom is, an Australian resident; or

an *Australian government agency; and

the entity liable to pay the interest is authorised to pay it at a place in Australia (whether to any of those entities or the agency, or to anyone else); and

the interest is or will be *derived by any of those entities or the agency in carrying on business in a country outside Australia at or through a *permanent establishment it has in that country;

The notice must be given in writing, before the entities, or the agency, enter into the transaction in relation to which the interest is payable, or within one month afterwards.

Immediately after giving the notice, those entities, or the agency, must notify the Commissioner of:

the particulars of the transaction (including the dates on which interest is payable under it); and

the day when the notice was given to the entity liable to pay the interest.