Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017 (27 of 2017)
Schedule 1 Diverted profits tax
Income Tax Assessment Act 1997
22 After subsection 205-35(1)
(1A) An entity receives a refund of diverted profits tax if and only if:
(i) the entity receives an amount as a refund; or
(ii) the Commissioner applies a credit, or an *RBA surplus, against a liability or liabilities of the entity; and
(b) the refund of the amount, or the application of the credit, represents in whole or in part a return to the entity of an amount paid or applied to satisfy the entity's liability to pay *diverted profits tax.