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

Schedule 1   Amendments

International Tax Agreements Act 1953

31   At the end of section 5

Add:

(4) Subsection (3) does not apply in relation to the operation of a provision of an agreement, to the extent that it is inconsistent with a provision contained in a law of the Commonwealth, or of a State or Territory, if:

(a) either:

(i) the provision of the agreement is specified in a determination under subsection (5); or

(ii) the provision of the agreement corresponds with a provision of an agreement that is specified in a determination under subsection (5); and

(b) the provision contained in a law of the Commonwealth, or of a State or Territory is specified in a determination under subsection (5).

(5) For the purposes of subsection (4), the Minister may, by legislative instrument, make a determination specifying:

(a) a provision of an agreement; and

(b) a provision contained in a law of the Commonwealth, or of a State or Territory.