Income Tax Assessment Act 1936

PART IIIB - AUSTRALIAN BRANCHES OF FOREIGN BANKS  

Division 2 - Provisions relating to income tax  

SECTION 160ZZZI   160ZZZI   CERTAIN TRANSACTIONS TO BE DISREGARDED  


Any transaction entered into by a foreign bank otherwise than through its Australian branch:


(a) under which finance is provided to the bank; or


(b) that is a derivative transaction or a foreign exchange transaction;

is to be disregarded for the purpose of determining whether a deduction is allowable to the bank under this Act.


 

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