Taxation Determination TD 93/134







[Note: This is a consolidated version of this document. Refer to the Legal Database ( www.ato.gov.au/law ) to check its currency and to view the details of all changes.] | 1. Yes, but only where the subsidiary and sub-subsidiary are wholly owned by a bank which is registered as an offshore banking unit (OBU). [1] | 2. Section 128AE of the Income Tax Assessment Act 1936 lists the entities which may be registered as OBUs: | 3. It is not necessary for the interposed entity to be a bank or an OBU so long as all of the shares are ultimately beneficially owned by a bank registered as an OBU. | Commissioner of Taxation 8/7/93 | Footnotes: Previously issued as Draft TD93/D34


Legislative references: ITAA 128AE