Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024
9‑45 If Australia is the Reference Juris9‑45 If Australia is the Reference Jurisdiction, section 9‑40 does not apply etc.
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9‑45 If Australia is the Reference Jurisdiction, section 9‑40 does not apply etc.
(1) This section applies in relation to a Fiscal Year covered by subsection 9‑40(2) if: (a) disregarding subsection (2) of this section, subsection 9‑40(1) applies in relation to the Fiscal Year; and (b) Australia is the Reference Jurisdiction of the MNE Group. (2) Subsection 9‑40(1) does not apply in relation to the Fiscal Year. (3) For the purposes of Part 2‑5, the Top‑up Tax for the Fiscal Year of a Low‑Taxed Constituent Entity of the MNE Group is taken to be zero if the Low‑Taxed Constituent Entity is located in Australia. (4) For the purposes of Part 2‑6: (a) the UTPR Percentage of each jurisdiction other than Australia is deemed to be zero; and (b) the UTPR Percentage of Australia is deemed to be 100%.