Second Reading Speeches

Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Bill 2023

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Before Senate
Parliament no
47

Track (What's this?)

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Summary

Amends the:

Corporations Act 2001
to require Australian public companies to disclose information about their subsidiaries in their annual financial reports by way of a ‘consolidated entity disclosure statement’; and
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
and
Taxation Administration Act 1953
to amend the thin capitalisation rules to limit the amount of debt deductions that multinational entities can claim in an income year.

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