Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 160ZZZI

    Any transaction entered into by a foreign bank otherwise than through its Australian branch:

  (a)   under which finance is provided to the bank; or

  (b)   that is a derivative transaction or a foreign exchange transaction;

is to be disregarded for the purpose of determining whether a deduction is allowable to the bank under this Act.