Document ID: chunk:federal_register_of_legislation:C2005A00064:clause:3_8
Version: federal_register_of_legislation:C2005A00064
Segment Type: clause
Provision Reference: sch 3 cl 8
Character Range: 15553–16311

8  At the end of Subdivision 170‑A
Add:

Australian permanent establishments of foreign financial entities

170‑75  Treatment like Australian branches of foreign banks

 (1) The object of this section is to let *tax losses be transferred under this Subdivision to and from *Australian permanent establishments of *foreign entities that are *financial entities in the same way as tax losses can be transferred to and from Australian branches of *foreign banks.

 (2) This Subdivision (except this section) applies to an *Australian permanent establishment of a *foreign entity that is a *financial entity in the same way as this Subdivision applies to an Australian branch (as defined in Part IIIB of the Income Tax Assessment Act 1936) of a *foreign bank.