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.