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.


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