Tax legislation in both countries in recent years, in particular the Double Taxation Prevention Convention (DBA) between Singapore and Australia, first came into force in 1969. The second protocol was signed on September 8, 2009 and came into force on December 22, 2010. This agreement eliminates double taxation of income between Singapore and Australia and reduces the overall tax burden on the citizens of both countries. Contracts benefit taxpayers because they provide residents of the countries that are parties to the agreement with double tax relief, tax cuts, tax credits, etc. Singapore has tax agreements with many countries and these agreements make the country`s already efficient tax system even more efficient. This article examines the main provisions of the DBA between Singapore and Australia. It will highlight the scope of the agreement, the benefits of the DBA and the possibility of taxing specific revenues from Singapore and Australia, in accordance with the provisions of the DBA. The key aspect of a double taxation agreement is that it provides tax relief to residents of countries that enter into an agreement. Tax relief is cut in cases where income would otherwise be taxed in the two contracting states.

The Australia-Singapore DBA applies to residents of the DBA agreement that signs the states (Singapore and Australia). The main terms of the agreement are: Types of taxes covered Learn about taxes in Singapore, including tax rates, income tax system, types of taxes and taxes in Singapore in general. The purpose of the DBAs is to reduce the double taxation of income in one jurisdiction that is that of a resident of another resident. The Singapore-Australia Double Taxation Convention (DBA) provides for an exemption from double taxation in the situation in which income is taxed for both countries. Date of amendment to the existing agreement The exemption from double taxation is enforced either by the country`s national tax laws or by the tax treaty. The methods available in Singapore are: the provisions of the DBA apply to persons residing in one or both contracting states. For more information on the Singapore-Australia agreement to avoid double taxation and prevent income tax evasion, see IRAS.