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

Schedule 1   Amendments

Taxation Administration Act 1953

50   After subsection 284-90(3) in Schedule 1

Insert:

(3A) For the purposes of item 6A of the table in subsection (1), an entity's threshold for a *Fiscal Year is the greater of:

(a) $10,000; and

(b) 1% of whichever of the following applies:

(i) the amount of *Australian IIR/UTPR tax payable by the entity for the Fiscal Year, worked out on the basis of the entity's *Australian IIR/UTPR tax return for the Fiscal Year;

(ii) the amount of *Australian DMT tax payable by the entity for the Fiscal Year, worked out on the basis of the entity's *Australian DMT tax return for the Fiscal Year.