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Changes expected to Offshore Banking Unit
John Fulton & Natalie Raju discuss implications for change which may be forthcoming to the OBU.
Major changes to Australia’s Offshore Banking Unit (OBU) regime are expected to be announced by Treasury shortly, and we understand that the regime may even be repealed.Currently, the OBU regime provides a concessional tax rate of 10 percent and an interest withholding tax (WHT) exemption for “offshore banking” activities, which generally involve offshore persons, eg non-residents, foreign branches or other OBUs.In October 2018, the Organisation for Economic Cooperation and Development’s (OEC...
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Authors: John Fulton, Natalie Raju
Published Date: 13 September 2019
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