Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 880 - Sovereign entities and activities  

Subdivision 880-C - Sovereign immunity  

Operative provisions

SECTION 880-130   Meaning of public non-financial entity and public financial entity  

880-130(1)  
An entity is a public non-financial entity if its principal activity is either or both of the following:


(a) producing or trading non-financial goods;


(b) providing services that are not financial services.

880-130(2)  
An entity is a public financial entity if any of the following requirements are satisfied:


(a) it trades in financial assets and liabilities;


(b) it operates commercially in the financial markets;


(c) its principal activities include providing any of the following financial services:


(i) financial intermediary services, including deposit-taking and insurance services;

(ii) financial auxiliary services, including brokerage, foreign exchange and investment management services;

(iii) capital financial institution services, including financial services in relation to assets or liabilities that are not available on open financial markets.

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