Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 160ZZZI

Certain transactions to be disregarded

                   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.



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