Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015 (70 of 2015)
Schedule 3 Offshore banking units
Part 4 Eligible OB activities
Income Tax Assessment Act 1936
18 Section 121C
Insert:
OB advisory activity has the meaning given by section 121DC.
OB eligible contract activity has the meaning given by section 121DB.
OB leasing activity has the meaning given by section 121DD.
offshore property means property that:
(a) cannot be in Australia; or
Example: Land outside Australia.
(b) is used, or will be used:
(i) wholly outside Australia; or
(ii) in Australia to an extent that is not material.
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