Income Tax Assessment Act 1936
PART III
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LIABILITY TO TAXATION
Division 9A
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Offshore banking units
Subdivision B
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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.
View history note
Hide history noteFor 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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