INCOME TAX ASSESSMENT ACT 1936

PART IIIB - AUSTRALIAN BRANCHES OF FOREIGN BANKS  

Division 2 - Provisions relating to income tax  

SECTION 160ZZZH   160ZZZH   NET CAPITAL LOSSES  


Subdivision 170-B of the Income Tax Assessment Act 1997 (about transfer of net capital losses within wholly-owned groups of companies) has effect as if an Australian branch of a foreign bank were a 100% subsidiary (within the meaning of that Act) of the bank and an Australian resident (within the meaning of that Act).

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