Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 9A - Offshore banking units  

Subdivision B - Interpretation  

SECTION 121EA  

121EA   OBU REQUIREMENT  

For a thing done by an OBU to be an OB activity, it is necessary that, when the thing is done:

(a) the OBU is a resident and the thing is not done in carrying on business in a country outside Australia at or through a permanent establishment of the OBU; or

(b) the OBU is a non-resident and the thing is done in carrying on business in Australia at or through a permanent establishment of the OBU.