Treasury Laws Amendment (Multinational - Global and Domestic Minimum Tax) (Consequential) Act 2024 (134 of 2024)
Schedule 1 Amendments
Income Tax Assessment Act 1936
5 After subsection 393(1)
Insert:
(2) For the purposes of subsection (1), foreign tax mentioned in that subsection does not include any of the following:
(a) foreign IIR tax (within the meaning of the Income Tax Assessment Act 1997);
(b) foreign UTPR tax (within the meaning of that Act);
(c) a tax specified in regulations made for the purposes of this paragraph.
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