Income from Real Property Sample Clauses

Income from Real Property. 1. Income derived by a resident of a Contracting State from real property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State. 2. The term "real property" shall have the meaning which it has under the law of the Contracting State in which the property in question is situated. The term shall in any case include property accessory to real property, livestock and equipment used in agriculture and forestry, rights to which the provisions of general law respecting landed property apply, buildings, usufruct of real property and rights to variable or fixed payments as consideration for the working of, or the right to work, mineral deposits, sources and other natural resources; ships, boats and aircraft shall not be regarded as real property. 3. The provisions of paragraph 1 shall apply to income derived from the direct use, letting, or use in any other form of real property. 4. The provisions of paragraphs 1 and 3 shall also apply to the income from real property of an enterprise and to income from real property used for the performance of independent personal services.

Income from Real Property. 1. Income derived by a resident of a Contracting State from real property, including income from agriculture or forestry, situated in the other Contracting State may be taxed in that other State. 2. The provisions of paragraph 1 of this Article shall apply to income derived from the direct use, letting, or use in any other form of real property. 3. The provisions of paragraphs 1 and 2 of this Article shall also apply to the income from real property of an enterprise.

Income from Real Property. 1 Income derived by a resident of a Contracting State from real property may be taxed in the Contracting State in which the real property is situated.

Income from Real Property. 1. Income from real property may be taxed in the Contracting State in which the real property is situated. 2. In this Article, the term "real property", in relation to one of the Contracting States, has the meaning which it has under the laws of that State and also includes: (a) a lease of land and any other interest in or over land including a right to explore for mineral, oil or gas deposits or other natural resources, and a right to mine such deposits or resources; and (b) a right to receive variable or fixed payments either as consideration for the exploitation of or the right to explore for or exploit, or in respect of the exploitation of, mineral, oil or gas deposits, quarries or other places of extraction or exploitation of natural resources. 3. Any interest or right referred to in paragraph 2 shall be regarded as situated where the land, mineral, oil or gas deposits, quarries or natural resources, as the case may be, are situated or where the exploration may take place. 4. The provisions of paragraphs 1 and 3 shall also apply to income from real property of an enterprise and to income from real property used for the performance of independent personal services.

Income from Real Property. 1. Income from real property may be taxed in the Contracting State in which the real property is situated. 2. In this Article, the term "real property": (a) in the case of Australia, has the meaning which it has under the laws of Australia, and shall also include: (i) a lease of land and any other interest in or over land, whether improved or not; and (ii) a right to receive variable or fixed payments as consideration for the exploitation of or the right to explore for or exploit, or in respect of the exploitation of, mineral deposits, oil or gas xxxxx, quarries or other places of extraction or exploitation of natural resources; and (b) in the case of Thailand, means immovable property according to the laws of Thailand, and shall also include: (i) property accessory to immovable property: (ii) rights to which the provisions of the general law respecting landed property apply: (iii) usufruct of immovable property; and (iv) a right to receive variable or fixed payments as consideration for the exploitation of or the right to explore for or exploit, or in respect of the exploitation of , mineral deposits, oil or gas xxxxx, quarries or other places of extraction or exploitation of natural resources. 3. A lease of land, any other interest in or over land and any right referred to in any of the subparagraphs of paragraph 2, shall be regarded as situated where the land, mineral deposits, oil or gas well , quarries or natural resources, as the case may be, are situated, or where the exploration may take place. ships, boats and aircraft shall not be regarded as real property. 4. The provisions of paragraph 1 shall apply to income derived from the direct use, letting or use in any other form of real property. 5. The provisions of paragraphs 1, 3 and 4 shall also apply to the income from real property of an enterprise and to income from real property used for the performance of professional services.

Income from Real Property. 1. Income derived by a resident of a Contracting State from real property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State. 2. For purposes of this Convention, the term "real property" includes any interest owned or held in tenancy by any individual or any legal entity in land, unsevered products of land as well as any fixture built on that land (buildings, structures, etc.) and other property considered real property under the law of the Contracting State in which the property in question is situated. Ships, boats and aircraft shall not be regarded as real property. 3. The provisions of paragraph 1 shall apply to income derived from the direct use, letting, or use in any other form of real property. 4. A resident of a Contracting State who is liable to tax in the other Contracting State on income from real property situated in that other State may elect, subject to the procedures of the domestic law of that other State, to compute the tax on such income on a net basis as if such income were attributable to a permanent establishment in that other State. Any such election shall be binding for the taxable year of the election and all subsequent taxable years unless revoked pursuant to the procedures under the domestic law of the Contracting State in which the property is situated.

Income from Real Property. 1. Income derived by a resident of a Contracting State from real property, including income from agriculture or forestry, situated in the other Contracting State may be taxed in that other State. 2. The term "real property” shall have the meaning which it has under the law of the Contracting State in which the property in question is situated. The term shall in any case include property accessory to real property (including livestock and equipment used in agriculture and forestry), rights to which the provisions of general law respecting landed property apply, usufruct of real property and rights to variable or fixed payments as consideration for the working of, or the right to work, mineral deposits, sources and other natural resources. Ships and aircraft shall not be regarded as real property. 3. The provisions of paragraph 1 shall apply to income derived from the direct use, letting, or use in any other form of real property. 4. The provisions of paragraphs 1 and 3 shall also apply to the income from real property of an enterprise. 5. A resident of a Contracting State who is liable to tax in the other Contracting State on income from real property situated in the other Contracting State may elect for any taxable year to compute the tax on such income on a net basis as if such income were business profits attributable to a permanent establishment in such other State. Any such election shall be binding for the taxable year of the election and all subsequent taxable years unless the competent authority of the Contracting State in which the property is situated agrees to terminate the election.

Income from Real Property. (1) Income from real property may be taxed in the Contracting State in which the real property is situated. (2) In this Article, the term “real property”, in relation to one of the Contracting States has the meaning which it has under the laws of that State and also includes: (a) a lease of land and any other interest in or over land whether improved or not; and (b) a right to receive variable or fixed payments either as consideration for the exploitation of or the right to explore for or exploit, or in respect of the exploitation of standing timber or any mineral, oil or gas deposits, quarries or other places of extraction or exploitation of natural resources. Income Tax Act section 106 Australia (3) Any interest or right referred to in paragraph (2) shall be regarded as situated where the land, standing timber, mineral, oil or gas deposits, quarries or natural resources, as the case may be, are situated or where the exploration may take place. (4) The provisions of paragraphs (1) and (3) shall also apply to income from real property of an enterprise and to income from real property used for the performance of professional services.

Income from Real Property. 1. Income derived by a resident of a Contracting State from real property may be taxed in the Contracting State in which the real property is situated. 2. The term “real property” shall have the meaning which it has under the law of the Contracting State in which the property is situated. The term shall in any case include: (a) a lease of land or any other interest in or over land; (b) property accessory to real property; (c) livestock and equipment used in agriculture and forestry; (d) usufruct of real property; (e) a right to explore for mineral, oil or gas deposits or other natural resources, and a right to mine those deposits or resources; and (f) a right to receive variable or fixed payments either as consideration for or in respect of the exploitation of, or the right to explore or exploit, mineral, oil or gas deposits, quarries or other places of extraction or exploitation of natural resources. Ships and aircraft shall not be regarded as real property. 3. Any interest or right referred to in paragraph 2 shall be regarded as situated where the land, mineral, oil or gas deposits, quarries or natural resources, as the case may be, are situated or where the exploration may take place. 4. The provisions of paragraph 1 of this Article shall apply to income derived from the direct use, letting, or use in any other form of real property. 5. The provisions of paragraphs 1, 3 and 4 of this Article shall also apply to the income from real property of an enterprise.

Income from Real Property. 1. Income from real property (including income from agriculture or forestry) situated in a Contracting State may be taxed in that State. 2. The term "real property" shall have the meaning which it has under the law of the Contracting State in which the property in question is situated. The term shall in any case include options, promises to sell, and similar rights relating to real property, property accessory to real property, livestock and equipment used in agriculture and forestry, rights to which the provisions of general law respecting landed property apply, usufruct of real property and rights to variable or fixed payments as consideration for the working of or the right to work, mineral deposits, sources and other natural resources. Ships and aircraft shall not be regarded as real property. 3. The provisions of paragraph 1 shall apply to income from the direct use, letting, or use in any other form of real property. 4. The provisions of paragraphs 1 and 3 shall also apply to income from real property of an enterprise and to income from real property used for the performance of independent personal services. 5. Where the ownership of shares or other rights in a company entitles a resident of a Contracting State to the enjoyment of real property situated in the other Contracting State and held by that company, the income derived by the owner from the direct use, letting, or use in any other form of this right of enjoyment may be taxed in that other State to the extent that it would be taxed under the domestic law of that other State if the owner were a resident of that State. The provisions of this paragraph shall apply, notwithstanding the provisions of Articles 7 (Business Profits) and 14 (Independent Personal Services). 6. A resident of a Contracting State who is liable to tax in the other Contracting State on income from real property situated in the other Contracting State may elect to be taxed on a net basis, if such treatment is not provided under the domestic law of that other State.