Bill
Taxation (Multinational—Global and Domestic Minimum Tax) Bill 2024
passed, as at 2024-12-10. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2024-07-04
- second reading — 2024-07-04
- second reading — 2024-08-13
- other — 2024-08-20
- second reading — 2024-08-20
- second reading — 2024-08-21
- other — 2024-08-22
- second reading — 2024-08-22
- third reading — 2024-08-22
- introduced — 2024-08-22
- second reading — 2024-08-22
- second reading — 2024-09-10
- second reading — 2024-11-26
- second reading — 2024-11-26
- committee — 2024-11-26
- third reading — 2024-11-26
- other — 2024-11-27
- passed — 2024-11-27
- royal assent — 2024-12-10
Divisions
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2024-07-04.
This bill is part of a package that would introduce a 15 per cent global minimum tax and an Australian domestic minimum tax for large multinational enterprises.
The package would apply the tax to fiscal years starting on or after 1 January 2024, with a later start of 1 January 2025 for the Australian undertaxed profits rule.
The explanatory memorandum does not name the specific Acts amended by this bill or provide details beyond the package's general effect.
- The bill would implement a 15 per cent global minimum tax.
- The bill would implement an Australian domestic minimum tax.
- The bill would apply the Australian undertaxed profits rule to fiscal years starting on or after 1 January 2025.
The source says the package affects multinational enterprises that meet the global minimum tax thresholds.
Sources
em
em supp
billhome
frl act