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

Schedule 1   Amendments

Income Tax Assessment Act 1997

18   At the end of section 770-10

Add:

Exception for foreign GloBE taxes

(6) An amount you paid of any of the following does not count towards the *tax offset for the year:

(a) *foreign IIR tax;

(b) *foreign UTPR tax.

Note: For rules relating to foreign DMT tax, see section 770-145.