Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017 (27 of 2017)

Schedule 1   Diverted profits tax

Income Tax Assessment Act 1997

17   After subsection 205-20(3)


(3A) An entity pays diverted profits tax if and only if:

(a) the entity has a liability to pay the *diverted profits tax; and

(b) either:

(i) the entity makes a payment to satisfy the liability (in whole or in part); or

(ii) a credit, or an *RBA surplus, is applied to discharge or reduce the liability.