Taxation Determination

TD 93/241A1 - Addendum

Income tax: Offshore banking units - if an OBU sells down or disposes of its interest in a loan which originally qualified as an OB activity, does any fee receivable constitute assessable OB income?


This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Taxation Determination TD 93/241 to update the end date of the Offshore Banking Unit regime.

TD 93/241 is amended as follows:

1. Paragraph 1

After the word 'OBU' in the Example, insert new footnote 1:

1 The OBU regime is closed to new entrants from 14 September 2021. The concessional tax treatment for existing OBUs in respect of offshore activities will be removed effective from the 2023-24 income year. Interest payments paid on or after 1 January 2024 on offshore borrowings by OBUs will no longer be exempt from withholding tax.

This Addendum applies from 13 September 2021.

Commissioner of Taxation
13 October 2021


ATO references:
NO NAT 93/5604-5

ISSN: 2205-6211