Income Tax Assessment Act 1936
PART IIIB
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AUSTRALIAN BRANCHES OF FOREIGN BANKS
Division 2
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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.
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