Taxation Laws Amendment Act (No. 2) 1999 (93 of 1999)

Schedule 1   Australia as a regional financial centre

Part 1   OBUs, withholding tax and thin capitalisation

Income Tax Assessment Act 1936

20   At the end of section 121EJ

Add:

(2) However, for the purposes of Division 18, if income has been subject to foreign tax it is taken to have a foreign source.