23 Aug 077 Section 160ZZZJ: interest of an Australian branch of a foreign bank - TD 2007/25This final Taxation Determination was issued on 22 August 2007. It was previously released in draft form as TD 2006/D16: see 2006 TAXVINE No 14 (12) (28 April 2006). Its full title is "Income tax: can s 160ZZZJ of Part IIIB of ITAA 1936 apply to interest entered in the accounting records of an Australian branch of a foreign bank if the interest relates to a borrowing the branch has obtained from a third party?" The answer given is No.
For a copy of TD 2007/25, go here