Taxation (Multinational - Global and Domestic Minimum Tax) Rules 2024

CHAPTER 10 - DEFINITIONS  

PART 10-2 - DEFINITIONS OF SECURITISATION ENTITY, FLOW-THROUGH ENTITY, TAX TRANSPARENT ENTITY, REVERSE HYBRID ENTITY, AND HYBRID ENTITY  

SECTION 10-50   DEEMED FLOW-THROUGH ENTITY AND TAX TRANSPARENT ENTITY  

10-50(1)    
Subsection (2) applies if a Constituent Entity:

(a)    is not a tax resident of any jurisdiction; and

(b)    is not subject to a Covered Tax or a Qualified Domestic Minimum Top-up Tax based on its place of management, place of creation, or similar criteria.

10-50(2)    
For the purposes of this instrument, treat the Constituent Entity as a Flow-through Entity and a Tax Transparent Entity in respect of its income, expenditure, profit or loss to the extent that:

(a)    its owners are located in a jurisdiction that treats the Entity as fiscally transparent; and

(b)    it does not have a place of business in the jurisdiction where it was created; and

(c)    the income, expenditure, profit or loss is not attributable to a Permanent Establishment in respect of which it is the Main Entity.