Income Tax Assessment Act 1936
An OB leasing activity is leasing activity with an offshore person involving offshore property. 121DD(2)
Without limiting subsection (1), OB leasing activity includes entering into:
(a) any arrangement (within the meaning of section 51AD ) under which a right to use offshore property is granted by the owner to another person; or
(b) any arrangement (within the meaning of that section) under which a right to use offshore property, being a right derived directly or indirectly from a right mentioned in paragraph (a) in relation to the property, is granted by a person to another person;
with an offshore person.
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