Income Tax Assessment Act 1936

PART IIIB - AUSTRALIAN BRANCHES OF FOREIGN BANKS  

Division 2 - Provisions relating to income tax  

SECTION 160ZZZI   160ZZZI   CERTAIN TRANSACTIONS TO BE DISREGARDED  

Any transaction entered into by a foreign bank otherwise than through its Australian branch:

(a) under which finance is provided to the bank; or

(b) that is a derivative transaction or a foreign exchange transaction;

is to be disregarded for the purpose of determining whether a deduction is allowable to the bank under this Act.