Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 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.

Guide to Subdivision 170-B



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