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

25   Paragraph 121D(3)(d)

Repeal the paragraph, substitute:

(d) issuing a performance bond to an offshore person in relation to activities that are, or will be, conducted:

(i) wholly outside Australia; or

(ii) in Australia to an extent that is not material;