INCOME TAX ASSESSMENT ACT 1936

PART III - LIABILITY TO TAXATION  

Division 9A - Offshore banking units  

Subdivision B - Interpretation  

SECTION 121DC   MEANING OF OB ADVISORY ACTIVITY  

121DC(1)  
An OB advisory activity is giving investment or other financial advice to an offshore person, including advice about disposing of an investment.

121DC(2)  
Giving advice about the making of a particular investment is not an OB advisory activity unless the investment is of a kind mentioned in subsection 121D(6) (Investment activity).

121DC(3)  
Subsection (2) does not exclude giving advice about a particular investment of a different kind if doing so is incidental to advising on an investment of a kind mentioned in subsection 121D(6) (for example for the purpose of comparison or because the investments are commercially related).

121DC(4)  
To avoid doubt, for the purposes of this section, advice about disposing of an investment is not advice about the making of the investment.


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