Taxation (Multinational - Global and Domestic Minimum Tax) Act 2024
A Pension Fund is any of the following: (a) an Entity that is established and operated in a jurisdiction exclusively or almost exclusively for the purpose of administering or providing retirement benefits and ancillary or incidental benefits to individuals, if:
(i) the Entity ' s establishment and operations for that purpose are regulated by that jurisdiction or one of its political subdivisions or local authorities; or
(b) a Pension Services Entity.
(ii) those benefits are secured or otherwise protected by national regulations and funded by a pool of assets held through a fiduciary arrangement or trust to secure the fulfilment of the corresponding pension obligations against a case of insolvency of the Entity, or of other Entities together with which the Entity comprise a Group;
23(2)
A Pension Services Entity is an Entity that is established and operated exclusively or almost exclusively: (a) to invest funds for the benefit of Entities referred to in paragraph (1)(a) ; or (b) if the Entity and an Entity referred to in paragraph (1)(a) (the Pension Fund Entity ), together with one or more other Entities, comprise a Group - to carry out activities that are ancillary to such of the Pension Fund Entity ' s activities that are for the purpose mentioned in that paragraph.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
