INCOME TAX ASSESSMENT ACT 1936

PART IIIB - AUSTRALIAN BRANCHES OF FOREIGN BANKS  

Division 2 - Provisions relating to income tax  

SECTION 160ZZX   INCOME OF BRANCH TO HAVE AUSTRALIAN SOURCE  

160ZZX(1)   [ Australian branch income]  

All income derived by a foreign bank through its Australian branch is taken, for the purposes of this Act, to be income derived from a source in Australia.

160ZZX(2)   [ Australian branch financial arrangements]  

All gains from a Division 230 financial arrangement (within the meaning of the Income Tax Assessment Act 1997 ) made by a foreign bank through its Australian branch is taken, for the purposes of this Act, to be from an Australian source.