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Taxation (Multinational - Global and Domestic Minimum Tax) Act 2024
- PART 1 - PRELIMINARY
- SECTION 1 SHORT TITLE
- SECTION 2 COMMENCEMENT
- SECTION 3 INTERPRETING THIS ACT
- SECTION 4 GEOGRAPHICAL APPLICATION OF THIS ACT
- SECTION 5 APPLICATION OF THIS ACT TO FISCAL YEARS
- PART 2 - LIABILITY
- Division 1 - Australian IIR tax (income inclusion rule tax)
- SECTION 6 LIABILITY TO TAX - AUSTRALIAN IIR TAX
- SECTION 7 MEANING OF IIR TOP-UP TAX AMOUNT
- Division 2 - Australian DMT tax (domestic minimum top-up tax)
- SECTION 8 LIABILITY TO TAX - AUSTRALIAN DMT TAX
- SECTION 9 MEANING OF DOMESTIC TOP-UP TAX AMOUNT
- Division 3 - Australian UTPR tax (undertaxed profits rule tax)
- SECTION 10 LIABILITY TO TAX - AUSTRALIAN UTPR TAX
- SECTION 11 MEANING OF UTPR TOP-UP TAX AMOUNT
- PART 3 - CORE GROUP AND ENTITY CONCEPTS
- Division 1 - Groups, Entities and Permanent Establishments
- SECTION 12 MEANING OF APPLICABLE MNE GROUP
- SECTION 13 MEANINGS OF ENTITY AND ULTIMATE PARENT ENTITY
- SECTION 14 MEANINGS OF MNE GROUP AND GROUP
- SECTION 15 MEANING OF GROUP ENTITY
- SECTION 16 MEANING OF CONSTITUENT ENTITY
- SECTION 17 GROUPS - GENERAL STRUCTURE
- SECTION 18 GROUPS - STRUCTURE WITH PERMANENT ESTABLISHMENT
- SECTION 19 MEANINGS OF PERMANENT ESTABLISHMENT AND MAIN ENTITY
- Division 2 - Excluded Entities
- SECTION 20 MEANING OF EXCLUDED ENTITY
- SECTION 21 MEANING OF GOVERNMENTAL ENTITY
- SECTION 22 MEANINGS OF INTERNATIONAL ORGANISATION AND NON-PROFIT ORGANISATION
- SECTION 23 MEANINGS OF PENSION FUND AND PENSION SERVICES ENTITY
- SECTION 24 MEANINGS OF REAL ESTATE INVESTMENT VEHICLE AND INVESTMENT FUND
- SECTION 25 MEANING OF EXCLUDED SERVICE ENTITY
- Division 3 - Joint Ventures and Multi-Parented MNE Groups
- SECTION 26 JOINT VENTURES
- SECTION 27 MEANINGS OF JV GROUP AND JV SUBSIDIARY
- SECTION 28 MULTI-PARENTED MNE GROUPS
- PART 4 - RULES
- SECTION 29 THE RULES - GENERAL
- SECTION 30 THE RULES - CONFERRAL OF POWERS AND FUNCTIONS
- SECTION 31 THE RULES - INCORPORATION BY REFERENCE
- SECTION 32 THE RULES - RETROSPECTIVE APPLICATION
- SECTION 33 THE RULES - MISCELLANEOUS
- PART 5 - INTERPRETATION
- Division 1 - Definitions
- SECTION 34 DEFINITIONS
- SECTION 35 CURRENCY TRANSLATION OF AGGREGATE VARIATION - DEFINITION OF MATERIAL COMPETITIVE DISTORTION
- Division 2 - Elections
- SECTION 36 FIVE-YEAR ELECTIONS
- SECTION 37 ANNUAL ELECTIONS
- Division 3 - Ownership Interests and Ownership Interest Percentages
- SECTION 38 MEANINGS OF OWNERSHIP INTEREST, DIRECT OWNERSHIP INTEREST AND INDIRECT OWNERSHIP INTEREST
- SECTION 39 MEANINGS OF OWNERSHIP INTEREST PERCENTAGE, DIRECT OWNERSHIP INTEREST PERCENTAGE AND INDIRECT OWNERSHIP INTEREST PERCENTAGE
- Division 4 - Location of Entities and Permanent Establishments
- SECTION 40 LOCATION OF AN ENTITY THAT IS NOT A FLOW-THROUGH ENTITY
- SECTION 41 LOCATION OF AN ENTITY THAT IS A FLOW-THROUGH ENTITY
- SECTION 42 LOCATION OF A PERMANENT ESTABLISHMENT
- SECTION 43 DUAL-LOCATED ENTITIES
- SECTION 44 CHANGE OF LOCATION DURING A FISCAL YEAR
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