Income Tax Assessment Act 1997
to: provide for a standard and centralised set of concepts to determine whether an entity is a ‘significant global entity’; and introduce new standards for transfer pricing documentation and country-by-country reporting by significant global entities;
Income Tax Assessment Act 1936
to negate certain tax avoidance schemes used by multinational entities to artificially avoid the attribution of profits to a permanent establishment in Australia; and
Taxation Administration Act 1953
to: increase the penalties imposed on significant global entities that enter into tax avoidance or profit shifting schemes; and make consequential amendments.