Private ruling: Tax consequences of leasing certain assets to non-residents
Date of advice: 3 November 2016
Published: January 2017

Ruling: In order to protect the privacy and commercial in-confidence components of this private binding ruling the following summary is provided. | The taxpayer, who is a resident for Australian income tax purposes, sought a ruling on whether certain transactions would constitute an offshore banking (OB) activity. | The Commissioner ruled: | ● Certain transactions are an 'OB activity' of the taxpayer within the meaning of subsection 121D(1) of the Income Tax Assessment Act 1936.