Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015 (70 of 2015)
Schedule 3 Offshore banking units
Part 3 Allocation of expenses
Income Tax Assessment Act 1936
14 Subsections 121EE(2) to (3A)
Repeal the subsections, substitute:
Assessable OB income
(2) The assessable OB income of an OBU is so much of the OBU's OB income of the year of income as is assessable income.