Treasury Laws Amendment (Multinational - Global and Domestic Minimum Tax) (Consequential) Act 2024 (134 of 2024)
Schedule 1 Amendments
Income Tax Assessment Act 1997
12 After subsection 205-20(3A)
Insert:
(3B) An entity pays Australian DMT tax if and only if:
(a) the entity has a liability to pay the *Australian DMT tax; and
(b) either:
(i) the entity makes a payment to satisfy the liability (in whole or in part); or
(ii) a credit, or an *RBA surplus, is applied to discharge or reduce the liability.
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