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

PART 3 - CORE GROUP AND ENTITY CONCEPTS  

Division 1 - Groups, Entities and Permanent Establishments  

SECTION 17   GROUPS - GENERAL STRUCTURE  

17(1)    
A Group under this subsection is comprised of:

(a)    an Ultimate Parent Entity; and

(b)    one or more other Entities, each of which is related through ownership or control such that the assets, liabilities, income, expenses and cash flows of the Entity:

(i) are included in the Consolidated Financial Statements of the Ultimate Parent Entity; or

(ii) are excluded from the Consolidated Financial Statements of the Ultimate Parent Entity solely on size or materiality grounds, or on the grounds that the Entity is held for sale.

17(2)    
The Ultimate Parent Entity mentioned in paragraph (1)(a) is the Ultimate Parent Entity of the Group.

17(3)    
Each Entity mentioned in paragraphs (1)(a) and (b) is a Group Entity of the Group.

17(4)    
Each Group Entity of the Group that is not an Excluded Entity is a Constituent Entity of the Group.