Summary
Amends the: Income Tax Assessment Act 1997 to extend the circumstances in which an entity is a significant global entity; and Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to: amend the country by country (CBC) reporting requirements and the requirement to provide general purpose financial statements so that they apply to a subset of significant global entities (referred to as CBC reporting entities) rather than all significant global entities; and make consequential amendments.