Treasury Laws Amendment (Multinational - Global and Domestic Minimum Tax) (Consequential) Act 2024 (134 of 2024)

Schedule 1   Amendments

Taxation Administration Act 1953

66   Application - amendments of Income Tax Assessment Act 1997

(1) Subject to the following subitems, the amendments of the Income Tax Assessment Act 1997 made by this Schedule apply in relation to income years ending on or after 1 January 2024.

(2) The amendment made by item 7 of this Schedule (deductibility of managing Australian GloBE tax affairs, etc) applies in relation to expenditure incurred on or after 1 January 2024.

(3) The amendments made by items 18 to 20 of this Schedule (foreign income tax offsets) apply in relation to foreign income tax paid on or after 1 January 2024.

(4) The amendments made by items 27 to 29 of this Schedule (defined terms) apply in relation to another amendment (the primary amendment ) made by this Schedule in the same way as the primary amendment applies.