10‑65 Dual‑located Parent Entity located10‑65 Dual‑located Parent Entity located in non‑IIR jurisdiction

10‑65 Dual‑located Parent Entity located in non‑IIR jurisdiction

(1) This section applies if: (a) disregarding section 43 of the Act, a Parent Entity of an MNE Group is located in more than one jurisdiction (each of which is a relevant jurisdiction) for a Fiscal Year under section 40 of the Act; and (b) under subsection 10‑60(2) or (3) of this instrument, the Parent Entity is taken to be located in one of those jurisdictions (the location jurisdiction) for the Fiscal Year; and (c) the Parent Entity is not required, under the laws of the location jurisdiction, to apply a Qualified IIR for the Fiscal Year. (2) If: (a) Australia is a relevant jurisdiction and is not the location jurisdiction; and (b) if Australia and the location jurisdiction are party to a Tax Treaty: (i) the Parent Entity is treated as a resident of the location jurisdiction for purposes of the Tax Treaty; and (ii) the location jurisdiction does not apply a Qualified IIR; and (c) Australia is not restricted from taxing the Parent Entity under the Tax Treaty for income tax purposes; treat the Parent Entity as being located in Australia for the purposes of paragraph 2‑5(1)(a) of this instrument.

Chapter 15—Application and transitional provisions