6‑80 Multi‑Parented MNE Groups6‑80 Multi‑Parented MNE Groups

6‑80 Multi‑Parented MNE Groups

(1) This section is made for the purposes of section 28 of the Act. (2) In applying the Act and this instrument in relation to 2 or more Groups (the separate Groups) that comprise a Multi‑Parented MNE Group in respect of a Fiscal Year: (a) treat the Group Entities and Constituent Entities of each separate Group as Group Entities and Constituent Entities respectively of a single MNE Group (the combined MNE Group); and (b) treat an Entity (other than an Excluded Entity) as a Constituent Entity of the combined MNE Group if: (i) it is consolidated on a line‑by‑line basis with the combined MNE Group; or (ii) Constituent Entities in the combined MNE Group hold a Controlling Interest in it; and (c) treat the Consolidated Financial Statements referred to in subsection 6‑85(3) or (4) (as the case may be) as the Consolidated Financial Statements of each of the Ultimate Parent Entities of the combined MNE Group; and (d) treat: (i) the Ultimate Parent Entities of the separate Groups as the Ultimate Parent Entities of the combined MNE Group; and (ii) references in the Act and this instrument to an Ultimate Parent Entity as being a reference to each of those Ultimate Parent Entities, for the purposes of applying the Act and this instrument in relation to the combined MNE Group; and (e) for the purposes of computing, under section 2‑5, the IIR Top‑up Tax Amounts of a Parent Entity of the combined MNE Group (including an Ultimate Parent Entity of the combined MNE Group) for a Fiscal Year, compute in accordance with Parts 2‑1 to 2‑3 its Allocable Share of the Top‑up Tax of a Constituent Entity of the combined MNE Group that is a Low‑Taxed Constituent Entity.