Taxation Determination TD 93/206







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. Subsection 121EE(2) of the Income Tax Assessment Act 1936 defines the assessable OB income of an OBU [1] as so much of the OBU's assessable income as is derived from OB activities, or included in assessable income because of such activities. | 2. Dividends and interest accruing from instruments held in an OBU's trading portfolio clearly fall under the second limb of subsection 121EE(2) and, therefore, qualify as assessable OB income. | Commissioner of Taxation 28/10/93 | Footnotes: Previously issued as Draft TD 93/D201


Legislative references: ITAA 121D(1); ITAA 121EE(2)
Subject references: Offshore banking, OBUs, assessable OB income