On 17 May 2023, the Australian Taxation Office (ATO) published a revised version of Taxation Ruling TR 2005/5, which provides extensive guidance on the ascertainment of the right to tax financial institutions under the tax treaties (conventions) with the US and the UK in respect of interest income arising in Australia. One important change concerns the application of the ruling beyond the US or UK tax treaties. This includes that the ruling also covers interest income derived by financial institutions in other countries with which Australia has a tax treaty if such other treaty contains an interest article that is...