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

Schedule 1   Amendments

Taxation Administration Act 1953

35   After Part 3-17 in Schedule 1

Insert:

Part 3-18 - Australian IIR/UTPR tax and Australian DMT tax

Division 127 - General provisions relating to Australian IIR/UTPR tax and Australian DMT tax

Table of Subdivisions

Guide to Division 127

127-A Returns

127-B When taxes are due and payable etc.

127-C GloBE Excluded Entities

Guide to Division 127

127-1 What this Division is about

Certain Group Entities of an Applicable MNE Group must give the Commissioner a GloBE Information Return, Australian IIR/UTPR tax return and Australian DMT tax return.

An amount of Australian IIR/UTPR tax and Australian DMT tax for a Fiscal Year is usually due and payable on the last day of the 15th month after the end of the Fiscal Year.

This Division contains other rules relating to the administration of the taxes, including rules dealing with charges and assessments.

Subdivision 1 27-A - Returns

Table of sections

GloBE Information Returns

127-5 GloBE Information Returns

127-10 GloBE Information Returns given by Designated Local Entities

127-15 Meaning of Designated Local Entity

127-20 GloBE Information Returns given to foreign government agencies

127-25 Meaning of Designated Filing Entity

127-30 GloBE Information Returns given to foreign government agencies - notification requirement

Australian IIR/UTPR tax returns

127-35 Australian IIR/UTPR tax returns

127-40 Australian IIR/UTPR tax returns given by Designated Local Entities

Australian DMT tax returns

127-45 Australian DMT tax returns

127-50 Australian DMT tax returns given by Designated Local Entities

127-55 GloBE Joint Ventures and GloBE JV Subsidiaries

Other provisions

127-60 When returns must be given

127-65 GloBE Main Entities and GloBE Permanent Establishments

GloBE Information Returns

127-5 GloBE Information Returns

Giving GloBE Information Returns

(1) A *Group Entity of an *Applicable MNE Group for a *Fiscal Year must give the Commissioner a *GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year if the Group Entity is *GloBE located in Australia for the Fiscal Year.

Note: The Group Entity is required to give the Commissioner a GloBE Information Return even if the amount of Australian IIR/UTPR tax and Australian DMT tax the Group Entity is liable to pay in relation to the Fiscal Year is nil.

(2) The *GloBE Information Return given under subsection (1) must:

(a) be *lodged electronically; and

(b) be in the *approved form.

(3) A GloBE Information Return , in respect of an *Applicable MNE Group for a *Fiscal Year, is a return that:

(a) if a determination under subsection (4) specifies requirements - is in accordance with those requirements; and

(b) if paragraph (a) does not apply - is in accordance with the standardised return developed in accordance with the *GloBE Implementation Framework, as amended from time to time; and

(c) contains the following information concerning the Applicable MNE Group:

(i) identification of the *Constituent Entities of the Applicable MNE Group, including the jurisdiction in which they are *GloBE located for the Fiscal Year and their status under the *GloBE Rules;

(ii) information on the overall corporate structure of the Applicable MNE group in the Fiscal Year;

(iii) information relevant to the determination of Effective Tax Rates (within the meaning of the GloBE Rules), Top-up Tax (within the meaning of the GloBE Rules) and allocation of Top-up Tax for the Fiscal Year;

(iv) elections made, for the Fiscal Year, in accordance with the relevant provisions of the GloBE Rules;

(v) other information that is agreed as part of the GloBE Implementation Framework and is necessary to carry out the administration of the GloBE Rules.

(4) For the purposes of paragraph (3)(a), the Commissioner may, by legislative instrument, make a determination specifying requirements for a return.

127-10 GloBE Information Returns given by Designated Local Entities

(1) This section applies if a *Designated Local Entity in relation to a *GloBE Information Return in respect of an *Applicable MNE Group for a *Fiscal Year gives the GloBE Information Return to the Commissioner in accordance with subsection 127-5(2).

(2) Each other *Group Entity of the *Applicable MNE Group that is *GloBE located in Australia for the *Fiscal year is taken to give the *GloBE Information Return to the Commissioner at the time the *Designated Local Entity gives the GloBE Information Return to the Commissioner.

127-15 Meaning of Designated Local Entity

A Designated Local Entity , of an *Applicable MNE Group for a *Fiscal Year, is a *Group Entity of the Applicable MNE Group that:

(a) is *GloBE located in Australia for the Fiscal Year; and

(b) has been appointed by every other Group Entity of the Applicable MNE Group that is GloBE located in Australia for the Fiscal Year to give to the Commissioner:

(i) the *GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year; or

(ii) a notice mentioned in paragraph 127-20(2)(b) in respect of the Applicable MNE Group for the Fiscal Year.

127-20 GloBE Information Returns given to foreign government agencies

(1) This section applies in relation to an *Applicable MNE Group for a *Fiscal Year if:

(a) either:

(i) the *GloBE Ultimate Parent Entity of the Applicable MNE Group is *GloBE located in a foreign country or part of a foreign country that has a *Qualifying Competent Authority Agreement in effect with Australia for the Fiscal Year; or

(ii) a *Designated Filing Entity in relation to the *GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year is GloBE located in a foreign country or part of a foreign country that has a Qualifying Competent Authority Agreement in effect with Australia for the Fiscal Year; and

(b) the GloBE Ultimate Parent Entity or Designated Filing Entity gives a GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year to a *foreign government agency of the foreign country or part of the foreign country no later than the time specified in section 127-60 in relation to the Fiscal Year.

(2) Each *Group Entity of the *Applicable MNE Group that is required to give a *GloBE Information Return in respect of the Applicable MNE Group for the *Fiscal Year to the Commissioner:

(a) is taken to give the GloBE Information Return to the Commissioner, in accordance with subsection 127-5(2), at the time the *GloBE Ultimate Parent Entity or *Designated Filing Entity gives the GloBE Information Return to the *foreign government agency; and

(b) must give the Commissioner a notice in accordance with subsection 127-30(1) in respect of the Applicable MNE Group for the Fiscal Year.

(3) A foreign country or part of a foreign country has a Qualifying Competent Authority Agreement in effect with Australia for a *Fiscal Year if an agreement or arrangement that:

(a) is between 2 or more competent authorities:

(i) at least one of which is a competent authority of Australia; and

(ii) at least one of which is a competent authority of that foreign country or part of a foreign country; and

(b) provides for the automatic exchange of annual *GloBE Information Returns for the Fiscal Year;

is in effect.

Commissioner may require Group Entity to give GloBE Information Return

(4) If:

(a) under subsection (2), a *Group Entity of the *Applicable MNE Group is taken to give a *GloBE Information Return in respect of the Applicable MNE Group for the *Fiscal Year to the Commissioner because the GloBE Information Return is given to a *foreign government agency; and

(b) the relevant *Qualifying Competent Authority Agreement provides for the GloBE Information Return to be given to the Commissioner by a specified time; and

(c) that time has passed, but the GloBE Information Return has not been given to the Commissioner under the Qualifying Competent Authority Agreement;

the Commissioner may, by written notice given to the Group Entity, request the Group Entity to give to the Commissioner a GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year in accordance with subsection 127-5(2).

(5) The *Group Entity must comply with the request in accordance with subsection (6).

(6) The *GloBE Information Return given under subsection (5) must be *lodged electronically.

127-25 Meaning of Designated Filing Entity

A Designated Filing Entity , in relation to a *GloBE Information Return in respect of an *Applicable MNE Group for a *Fiscal Year, is a *Group Entity of the Applicable MNE Group that has been appointed by the Applicable MNE Group to file the GloBE Information Return on behalf of the Applicable MNE Group.

127-30 GloBE Information Returns given to foreign government agencies - notification requirement

(1) For the purposes of paragraph 127-20(2)(b), the notice mentioned in that paragraph:

(a) must be given to the Commissioner no later than the time specified in section 127-60 in relation to the *Fiscal Year; and

(b) must state:

(i) the identity of the *GloBE Ultimate Parent Entity or *Designated Filing Entity that gives the *GloBE Information Return to the *foreign government agency; and

(ii) the jurisdiction in which that GloBE Ultimate Parent Entity or Designated Filing Entity is *GloBE located; and

(c) must be in the *approved form; and

(d) must be *lodged electronically.

(2) Subsection (3) applies if a *Designated Local Entity of the *Applicable MNE Group gives the notice mentioned in subsection (1) in accordance with that subsection.

(3) Each other *Group Entity of the *Applicable MNE Group that is *GloBE located in Australia for the *Fiscal year is taken to give the notice to the Commissioner at the time the *Designated Local Entity gives the notice to the Commissioner.

Australian IIR/UTPR tax returns

127-35 Australian IIR/UTPR tax returns

(1) The purpose of this section is to provide, for the purposes of administering the *Australian IIR/UTPR tax, for a return that supplements the *GloBE Information Return.

(2) Subject to subsection (4), a *Group Entity of an *Applicable MNE Group for a *Fiscal Year must give the Commissioner a return under this subsection (an Australian IIR/UTPR tax return ) for the Fiscal Year if the Group Entity has an *Australian IIR/UTPR tax amount for the Fiscal Year (including a nil amount).

(3) The return must:

(a) be *lodged electronically; and

(b) be in the *approved form.

(4) However, the return need not be lodged in circumstances set out in a determination under subsection (5).

(5) The Commissioner may, by legislative instrument, make a determination specifying circumstances in which a *Group Entity need not lodge a return under subsection (2).

127-40 Australian IIR/UTPR tax returns given by Designated Local Entities

(1) This section applies if:

(a) a *Designated Local Entity of an *Applicable MNE Group for a *Fiscal Year has been appointed, by each *Group Entity of the Applicable MNE Group that is required to give the Commissioner an *Australian IIR/UTPR tax return for the Fiscal Year, to give an Australian IIR/UTPR tax return for the Fiscal Year to the Commissioner on behalf of the Group Entity; and

(b) the Designated Local Entity gives an Australian IIR/UTPR tax return for the Fiscal Year to the Commissioner on behalf of those Group Entities in accordance with subsection 127-35(3).

(2) Each of those *Group Entities is taken to give the *Australian IIR/UTPR tax return to the Commissioner at the time at which the *Designated Local Entity gives the Australian IIR/UTPR tax return to the Commissioner.

Australian DMT tax returns

127-45 Australian DMT tax returns

(1) The purpose of this section is to provide, for the purposes of administering the *Australian DMT tax, for a return that supplements the *GloBE Information Return.

(2) Subject to subsection (5), a *Group Entity of an *Applicable MNE Group for a *Fiscal Year must give the Commissioner a return under this subsection (an Australian DMT tax return ) for the Fiscal Year if the Group Entity has a *Australian DMT tax amount for the Fiscal Year (including a nil amount).

Note: The Group Entity is required to give the Commissioner a DMT return if the Group Entity has an Australian DMT tax amount for the Fiscal Year, even if the amount of Australian DMT tax the Group Entity is liable to pay in relation to the Fiscal Year is nil.

(3) The return must:

(a) be *lodged electronically; and

(b) be in the *approved form.

(4) However, the return need not be lodged in circumstances set out in a determination under subsection (5).

(5) The Commissioner may, by legislative instrument, make a determination specifying circumstances in which a *Group Entity need not lodge a return under subsection (2).

127-50 Australian DMT tax returns given by Designated Local Entities

(1) This section applies if:

(a) a *Designated Local Entity of an *Applicable MNE Group for a *Fiscal Year has been appointed, by each *Group Entity of the Applicable MNE Group that is required to give the Commissioner an *Australian DMT tax return for the Fiscal Year, to give an Australian DMT tax return for the Fiscal Year to the Commissioner on behalf of the Group Entity; and

(b) the Designated Local Entity gives an Australian DMT tax return for the Fiscal Year to the Commissioner on behalf of those Group Entities in accordance with subsection 127-45(3).

(2) Each of those *Group Entities is taken to give the *Australian DMT tax return to the Commissioner at the time at which the *Designated Local Entity gives the Australian DMT tax return to the Commissioner.

127-55 GloBE Joint Ventures and GloBE JV Subsidiaries

(1) This section applies if, in relation to an *Applicable MNE Group, any of the following has an *Australian DMT tax amount for a Fiscal Year (including a nil amount):

(a) a *GloBE Joint Venture of the Applicable MNE Group;

(b) a *GloBE JV Subsidiary of a GloBE Joint Venture of the *Applicable MNE Group.

(2) In addition to the application that they have under this subsection, sections 127-45 and 127-50 apply, for the Fiscal Year, in relation to the *GloBE Joint Venture or the *GloBE JV Subsidiary in the same way they apply in relation to a *Group Entity of an Applicable MNE Group.

(3) For the purposes of subsection (2), treat:

(a) the *GloBE Joint Venture and its *GloBE JV Subsidiaries as *Group Entities of a separate *Applicable MNE Group for the *Fiscal Year; and

(b) the GloBE Joint Venture as the *GloBE Ultimate Parent Entity of that separate Applicable MNE Group.

(4) Subsection (5) applies if:

(a) a *Designated Local Entity of the *Applicable MNE Group mentioned in subsection (1) for a *Fiscal Year has been appointed, by each Entity mentioned in paragraphs (1)(a) and (b) that is required to give the Commissioner an *Australian DMT tax return for the Fiscal Year (each of which is a reporting Entity ), to give an Australian DMT tax return for the Fiscal Year to the Commissioner on behalf of the reporting Entity; and

(b) the Designated Local Entity gives an Australian DMT tax return for the Fiscal Year to the Commissioner on behalf of those reporting Entities in accordance with subsection 127-45(3).

(5) Each of the reporting Entities is taken to give the *Australian DMT tax return to the Commissioner at the time at which the *Designated Local Entity gives the Australian DMT tax return to the Commissioner.

(6) However, subsection (5) does not apply to the reporting Entities if any reporting Entity appoints more than one *Designated Local Entity under paragraph (4)(a) for the Fiscal Year.

Note: In these circumstances, section 127-50 may still apply.

Other provisions

127-60 When returns must be given

(1) A *GloBE Information Return, *Australian IIR/UTPR tax return or *Australian DMT tax return for a *Fiscal Year must be given to the Commissioner no later than 15 months after the end of the Fiscal Year.

(2) However:

(a) if the *Fiscal Year is the relevant *Applicable MNE Group's *GloBE Transition Year, the *GloBE Information Return, *Australian IIR/UTPR tax return or *Australian DMT tax return must be given to the Commissioner no later than 18 months after the end of the Fiscal Year; and

(b) a GloBE Information Return that a *Group Entity is required to give to the Commissioner under subsection 127-20(5) must be given no later than the later of:

(i) the day by which the Group Entity would, apart from section 127-20, be required to give the GloBE Information Return to the Commissioner under section 127-5; and

(ii) 21 days after the Commissioner gives the request under subsection 127-20(4) to the Group Entity.

(3) Section 388-55 (Commissioner may defer time for lodgment) does not apply to the requirement to give a *GloBE Information Return or a notice under paragraph 127-20(2)(b).

127-65 GloBE Main Entities and GloBE Permanent Establishments

(1) This section applies if a *Group Entity of an *Applicable MNE Group for a *Fiscal year is a *GloBE Main Entity in respect of a *GloBE Permanent Establishment.

(2) This Subdivision:

(a) applies to the *Group Entity in its own capacity; and

(b) also applies to the Group Entity in its capacity as the *GloBE Main Entity in respect of the *GloBE Permanent *Establishment.

(3) If the *Group Entity is not *GloBE located in Australia and the *GloBE Permanent *Establishment is GloBE located in Australia, sections 127-5 to 127-30 apply in relation to the Group Entity in the same way that they apply in relation to a Group Entity that is GloBE located in Australia.

Subdivision 1 27-B - When taxes are due and payable etc.

Table of sections

Operative provisions

127-70 When Australian IIR/UTPR tax and Australian DMT tax and related charges are due and payable

127-75 Assessments of Australian IIR/UTPR tax and Australian DMT tax

Operative provisions

127-70 When Australian IIR/UTPR tax and Australian DMT tax and related charges are due and payable

Original assessments

(1) If a *Group Entity of an *Applicable MNE Group is liable to pay an amount of *Australian IIR/UTPR tax or *Australian DMT tax for a *Fiscal Year, the amount is due and payable on the last day of the 15th month after the end of the Fiscal Year.

(2) However, if the *Fiscal Year is the *Applicable MNE Group's *GloBE Transition Year, the amount is due and payable on the last day of the 18th month after the end of the Fiscal Year.

Amended assessments

(3) If the Commissioner amends a *Group Entity's assessment of an amount of *Australian IIR/UTPR tax or *Australian DMT tax, any extra such tax resulting from the amendment is due and payable 21 days after the day the Commissioner gives the Group Entity notice of the amended assessment.

Shortfall interest charge

(4) If a *Group Entity is liable to pay an amount of *shortfall interest charge under section 280-102E, the amount is due and payable 21 days after the day the Commissioner gives the Group Entity notice of the charge.

General interest charge

(5) If an amount of *Australian IIR/UTPR tax or *Australian DMT tax or *shortfall interest charge payable under this section remains unpaid after it is due and payable, the *Group Entity is liable to pay *general interest charge on the unpaid amount for each day in the period that:

(a) started at the beginning of the day by which the amount was due to be paid; and

(b) finishes at the end of the last day at the end of which any of the following remains unpaid:

(i) the amount of such tax or shortfall interest charge;

(ii) general interest charge on any of the amount of such tax or shortfall interest charge.

127-75 Assessments of Australian IIR/UTPR tax and Australian DMT tax

(1) In applying Division 155 in relation to an amount of *Australian IIR/UTPR tax or *Australian DMT tax, apply the provisions of that Division with the modification set out in subsection (2) of this section.

(2) Despite subsection 155-35(2), the period of review , for an assessment of an amount of *Australian IIR/UTPR tax for a *Fiscal Year, is:

(a) the period of 4 years starting on the later of:

(i) the day on which the *GloBE Information Return for the relevant *Applicable MNE Group for the Fiscal Year is given to the Commissioner; and

(ii) the day on which the *Australian IIR/UTPR tax return for the relevant *Group Entity for the Fiscal Year is given to the Commissioner; or

(b) if the period of review is extended under subsection 155-35(3) or (4) - the period as so extended.

(3) Despite subsection 155-35(2), the period of review , for an assessment of an amount of *Australian DMT tax for a *Fiscal Year, is:

(a) the period of 4 years starting on the later of:

(i) the day on which the *GloBE Information Return for the relevant *Applicable MNE Group for the Fiscal Year is given to the Commissioner; and

(ii) the day on which the *Australian DMT tax return for the relevant *Group Entity for the Fiscal Year is given to the Commissioner; or

(b) if the period of review is extended under subsection 155-35(3) or (4) - the period as so extended.

Subdivision 127-C - GloBE Excluded Entities

Table of sections

Operative provisions

127-80 Provisions do not apply to GloBE Excluded Entities

Operative provisions

127-80 Provisions do not apply to GloBE Excluded Entities

A reference in this Division to a *Group Entity does not include a reference to a *GloBE Excluded Entity.

Division 128 - Extended application of tax laws relating to Australian IIR/UTPR tax and Australian DMT tax

Table of Subdivisions

Guide to Division 128

128-A Additional liability of Entities in Group or JV Group

128-B Extended application to certain types of entity

128-C GloBE Excluded Entities

Guide to Division 128

128-1 What this Division is about

This Division extends onto other entities the obligations and liabilities of various entities under the Minimum Tax law.

Subdivision 128-A - Additional liability of Entities in Group or JV Group

Table of sections

128-5 Additional liability of Group Entities of Applicable MNE Group

128-10 Additional liability of Entities in a JV Group

128-5 Additional liability of Group Entities of Applicable MNE Group

(1) If an amount is payable under the *Minimum Tax law by a *Group Entity of an *Applicable MNE Group for a *Fiscal Year:

(a) that Group Entity; and

(b) each other Group Entity of the Applicable MNE Group (other than a Group Entity excluded by subsection (2));

are jointly and severally liable to pay the amount.

(2) For the purposes of subsection (1), a *Group Entity is excluded by this subsection if it is, at the time the amount becomes due and payable, prohibited according to the effect of an *Australian law from entering into any arrangement under which the Group Entity becomes subject to a liability referred to in that subsection.

128-10 Additional liability of Entities in a JV Group

(1) Subsection (2) applies if an amount is payable under the *Minimum Tax law by any of the following:

(a) a *GloBE Joint Venture of an *Applicable MNE Group;

(b) a *GloBE JV Subsidiary of a GloBE Joint Venture of an Applicable MNE Group.

(2) Each of the following Entities (other than an Entity excluded by subsection (3)) is jointly and severally liable to pay the amount:

(a) the *GloBE Joint Venture;

(b) a *GloBE JV Subsidiary of the GloBE Joint Venture;

(c) a *Group Entity of the *Applicable MNE Group that holds a Direct Ownership Interest (within the meaning of the *Minimum Tax Act) in the GloBE Joint Venture.

(3) For the purposes of subsection (2), an Entity is excluded by this subsection if it is, at the time the amount becomes due and payable, prohibited according to the effect of an *Australian law from entering into any arrangement under which the Entity becomes subject to a liability referred to in subsection (2).

Subdivision 128-B - Extended application to certain types of entity

Table of sections

128-15 Trusts

128-20 Partnerships

128-25 Unincorporated GloBE Joint Ventures, etc. and certain unincorporated Group Entities

128-15 Trusts

Obligations

(1) Subject to subsection (2), if an obligation is imposed under the *Minimum Tax law on a trust, the obligation is imposed on each of the following entities, but may be discharged by any such entity:

(a) an entity that is the trustee of the trust at the time the obligation arises;

(b) an entity that is the trustee of the trust at a time that is:

(i) after the obligation arises; and

(ii) before the obligation has been discharged.

Liabilities to pay an amount

(2) If an amount is payable under the *Minimum Tax law by a trust, joint and several liability to pay the amount is imposed as set out in the table:

Commissioner has direct access to trust assets

(3) For the purpose of ensuring the payment of an amount payable by an entity under this section in relation to a liability of a trust, the Commissioner has the same remedies against the property of the trust as the Commissioner would have against the property of the entity.

Right of indemnity

(4) An entity that pays an amount of a liability it has under this section is entitled to be indemnified out of the assets of the trust for the liability.

Offences

(5) Any offence against the *Minimum Tax law that is committed by a trust is taken to have been committed by the trustee of the trust, or, if the trust has more than one trustee, by each of the trustees.

(6) In a prosecution of an entity for an offence that the entity is taken to have committed because of subsection (5), it is a defence if the entity proves that the entity:

(a) did not aid, abet, counsel or procure the relevant act or omission; and

(b) was not in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the entity).

Note 1: The defence in subsection (6) does not apply in relation to offences under Part 2.4 of the Criminal Code.

Note 2: A defendant bears a legal burden in relation to the matters in subsection (6): see section 13.4 of the Criminal Code.

128-20 Partnerships

Application

(1) This section applies in relation to a *GloBE partnership that is not:

(a) a *GloBE Joint Venture of an *Applicable MNE Group; or

(b) a *GloBE JV Subsidiary of a GloBE Joint Venture of an Applicable MNE Group.

Obligations

(2) Subject to subsection (3), if an obligation is imposed under the *Minimum Tax law on the *GloBE partnership, the obligation is imposed on each partner of the GloBE partnership, but may be discharged by any such partner.

Liabilities to pay an amount

(3) If an amount is payable under the *Minimum Tax law by the *GloBE partnership, the partners of the GloBE partnership are jointly and severally liable to pay the amount.

Offences

(4) Any offence against the *Minimum Tax law that is committed by the *GloBE partnership is taken to have been committed by each partner of the GloBE partnership.

(5) In a prosecution of an entity for an offence that the entity is taken to have committed because of subsection (4), it is a defence if the entity proves that the entity:

(a) did not aid, abet, counsel or procure the relevant act or omission; and

(b) was not in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the entity).

Note 1: The defence in subsection (5) does not apply in relation to offences under Part 2.4 of the Criminal Code.

Note 2: A defendant bears a legal burden in relation to the matters in subsection (5): see section 13.4 of the Criminal Code.

Meaning of GloBE partnership

(6) A GloBE partnership is a partnership (within the meaning of paragraph 13(1)(b) of the *Minimum Tax Act).

(7) To avoid doubt, section 94K of the Income Tax Assessment Act 1936 (about corporate limited partnerships) does not apply in relation to this section.

128-25 Unincorporated GloBE Joint Ventures, etc. and certain unincorporated Group Entities

Obligations

(1) Subject to subsection (2), if an obligation is imposed under the *Minimum Tax law on a *GloBE Entity of a kind specified in an item in the table in subsection (5), the obligation is imposed on each liable entity specified in the item, but may be discharged by any such entity.

Liabilities to pay an amount

(2) If an amount is payable under the *Minimum Tax law by a *GloBE Entity of a kind specified in an item in the table in subsection (5), the liable entities specified in the item are jointly and severally liable to pay the amount.

Offences

(3) Any offence against the *Minimum Tax law that is committed by a *GloBE Entity of a kind specified in an item in the table in subsection (5) is taken to have been committed by each liable entity specified in the item.

(4) In a prosecution of an entity for an offence that the entity is taken to have committed because of subsection (3), it is a defence if the entity proves that the entity:

(a) did not aid, abet, counsel or procure the relevant act or omission; and

(b) was not in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the entity).

Note 1: The defence in subsection (4) does not apply in relation to offences under Part 2.4 of the Criminal Code.

Note 2: A defendant bears a legal burden in relation to the matters in subsection (4): see section 13.4 of the Criminal Code.

Liable entities

(5) For the purposes of subsections (1) to (3), the following kinds of *GloBE Entity and liable entities are specified:

Subdivision 128-C - Miscellaneous

Table of sections

Operative provisions

128-30 Provisions do not apply to GloBE Excluded Entities

128-35 Joint and several liability does not extend to GloBE Securitisation Entities

Operative provisions

128-30 Provisions do not apply to GloBE Excluded Entities

A reference in this Division to a *Group Entity does not include a reference to a *GloBE Excluded Entity.

128-35 Joint and several liability does not extend to GloBE Securitisation Entities

(1) For the purposes of paragraph 128-5(1)(b), treat a *Group Entity that is a *GloBE Securitisation Entity as being a Group Entity excluded by subsection 128-5(2).

(2) For the purposes of subsection 128-10(2), treat a *Group Entity that is a *GloBE Securitisation Entity as being an Entity excluded by subsection 128-10(3).