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On 22 August 2024, the Australian House of Representatives passed a new law that introduces a 15% global minimum tax and a domestic minimum tax for large multinational companies with yearly global revenues over €750 million. This move follows the Australian Government's 2023-2024 Budget plan, which included adopting the OECD/G20...
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As of 8 April 2024, the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 has officially been enacted. This landmark legislation introduces major reforms to Australia’s Thin Capitalisation regime, which will apply to income years commencing on or after 1 July 2023. In...
Clarity Mag
On 27 March 2024, a Bill was passed in the Australian Government to mark a new era in mandated sustainability reporting for all Australian businesses. Schedule 4 to the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth) was introduced into the House of Representatives to establish...