Taxation (Multinational - Global and Domestic Minimum Tax) Act 2024
PART 5
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INTERPRETATION
Division 4
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Location of Entities and Permanent Establishments
SECTION 40
LOCATION OF AN ENTITY THAT IS NOT A FLOW-THROUGH ENTITY
40(1)
This section applies to an Entity if it is not a Flow-through Entity.
40(2)
For the purposes of this Act, the Entity is located in the following jurisdiction: (a) if the Entity is an Australian entity (within the meaning of the Income Tax Assessment Act 1997 ) - Australia; (b) if, for the purposes of a law of a jurisdiction relating to national or federal Covered Taxes, the Entity is resident in the jurisdiction based on its place of management, place of creation or a similar criterion - that jurisdiction; (c) if paragraphs (a) and (b) do not apply - the jurisdiction in which the Entity was created.
This section applies to an Entity if it is not a Flow-through Entity.
40(2)
For the purposes of this Act, the Entity is located in the following jurisdiction: (a) if the Entity is an Australian entity (within the meaning of the Income Tax Assessment Act 1997 ) - Australia; (b) if, for the purposes of a law of a jurisdiction relating to national or federal Covered Taxes, the Entity is resident in the jurisdiction based on its place of management, place of creation or a similar criterion - that jurisdiction; (c) if paragraphs (a) and (b) do not apply - the jurisdiction in which the Entity was created.
Note:
If, under this section, the Entity is located in more than one jurisdiction for a Fiscal Year, see section 43 .
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