New International Tax Arrangements (Foreign-owned Branches and Other Measures) Act 2005 (64 of 2005)

Schedule 3   Australian permanent establishments of foreign financial entities

Part 1   Treatment like Australian branches of foreign banks

Income Tax Assessment Act 1936

1   At the end of subsection 160ZZVA(1)

Add:

Note: This Part also:

(a) applies to foreign entities that are financial entities in the same way as it applies to foreign banks; and

(b) applies to permanent establishments in Australia of foreign entities that are financial entities in the same way as it applies to Australian branches of foreign banks.

See Division 4.