Document ID: chunk:federal_register_of_legislation:F2021N00261:body:0:p5
Version: federal_register_of_legislation:F2021N00261
Segment Type: other
Provision Reference: 
Character Range: 18416–23256

by the OBU to the subsidiary qualify as assessable OB income?                                  This Ruling is amended to reflect that the Offshore Banking Unit (OBU) regime is closed to new entrants from 14 September 2021. The concessional tax treatment for existing OBUs in respect of offshore activities will be removed effective from the 2023–24 income year.
                                                                                                                                                                                                                                                                                                                                                     This Addendum applies from 13 September 2021.
TD 93/212          Income tax:  Offshore Banking Units (OBU) – are salaries and other operating expenses that are paid from non-OB money taken into account for purposes of the 'purity test' in section 121EH where the expenses are incurred in undertaking OB activities?                                                                         This Ruling is amended to reflect that the Offshore Banking Unit (OBU) regime is closed to new entrants from 14 September 2021. The concessional tax treatment for existing OBUs in respect of offshore activities will be removed effective from the 2023–24 income year.
                                                                                                                                                                                                                                                                                                                                                     This Addendum applies from 13 September 2021.
TD 93/213          Income tax:  Offshore Banking Units (OBU) – if an OBU earns fee income for completing an assignment (say advisory activities) on a success only basis, are expenses incurred on unsuccessful deals exclusive offshore banking (OB) deductions or general OB deductions?                                                           This Ruling is amended to reflect that the Offshore Banking Unit (OBU) regime is closed to new entrants from 14 September 2021. The concessional tax treatment for existing OBUs in respect of offshore activities will be removed effective from the 2023–24 income year.
                                                                                                                                                                                                                                                                                                                                                     This Addendum applies from 13 September 2021.
TD 93/214          Income tax:  Offshore Banking Units (OBU) – must an OBU enter details of expenditure that it intends to claim as allowable offshore banking (OB) deductions or allowable non-OB deductions in its relevant books of account at the time of incurring that expenditure?                                                            This Ruling is amended to reflect that the Offshore Banking Unit (OBU) regime is closed to new entrants from 14 September 2021. The concessional tax treatment for existing OBUs in respect of offshore activities will be removed effective from the 2023–24 income year.
                                                                                                                                                                                                                                                                                                                                                     This Addendum applies from 13 September 2021.
TD 93/215          Income tax:  Offshore Banking Units (OBU) – where an institution that is registered as an OBU lends money to another institution that is registered as an OBU, how do the counterparties know whether the loan qualifies as an offshore banking (OB) activity?                                                                    This Ruling is amended to reflect that the Offshore Banking Unit (OBU) regime is closed to new entrants from 14 September 2021. The concessional tax treatment for existing OBUs in respect of offshore activities will be removed effective from the 2023–24 income year.
                                                                                                                                                                                                                                                                                                                                                     This Addendum applies from 13 September 2021.
TD 93/216          Income tax:  Offshore Banking Units (OBU) – is an OBU entitled to concessional tax treatment