Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p122
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 305694–308612

Year, disregard amounts to the extent that they are attributable to a Direct Ownership Interest in the Ultimate Parent Entity held by a holder described in paragraph 7‑5(2)(a), (b) or (c).

8‑90  Transitional CbCR Safe Harbour—special rule for Deductible Dividend Regimes
 (1) Subsection (2) applies if a Constituent Entity of an MNE Group is:
 (a) the Ultimate Parent Entity of the MNE Group; and
 (b) subject to a Deductible Dividend Regime; and
 (c) where it is a Flow‑through Entity—subsection 8‑85(3) does not prevent section 8‑10 from applying in relation to the MNE Group for the jurisdiction in which it is located for a Fiscal Year.
 (2) For the purposes of section 8‑10, in working out the MNE Group's Profit (Loss) before Income Tax, and Simplified Covered Taxes, for the jurisdiction in which the Ultimate Parent Entity is located for the Fiscal Year, disregard amounts to the extent that they are distributed as a result of an Ownership Interest in the Ultimate Parent Entity held by a recipient described in paragraph 7‑20(2)(a), (b) or (c).

8‑95  Transitional CbCR Safe Harbour—special rules for Investment Entities and their Constituent Entity‑owners

Non‑qualifying Investment Entities
 (1) Subsections (2), (3) and (4) apply in relation to a Fiscal Year if both of the following apply to one or more Constituent Entities of an MNE Group that are Investment Entities (the non‑qualifying Investment Entities):
 (a) the non‑qualifying Investment Entities are CbCR Residents of a jurisdiction (the Investment Entity Jurisdiction) for the Fiscal Year;
 (b) an election under subsection (7) does not apply in relation to the non‑qualifying Investment Entities and the Fiscal Year.
 (2) For the purposes of section 8‑10, apply the principles in subsection (3) in computing the MNE Group's:
 (a) Profit (Loss) before Income Tax; and
 (b) Total Revenue; and
 (c) Simplified Covered Taxes;
for the Fiscal Year for each of the following jurisdictions (the relevant jurisdictions):
 (d) the Investment Entity Jurisdiction;
 (e) each jurisdiction of which a Constituent Entity‑owner of a non‑qualifying Investment Entity is a CbCR Resident.
 (3) For the purposes of subsection (2), the principles are as follows:
 (a) include a proportion of each non‑qualifying Investment Entity's profit or loss before income tax for the Fiscal Year in the profit or loss before income tax for the Fiscal Year of each Constituent Entity‑owner of the non‑qualifying Investment Entity;
 (b) include a proportion of each non‑qualifying Investment Entity's total revenues for the Fiscal Year in the total revenues for the Fiscal Year of each Constituent Entity‑owner of the non‑qualifying Investment Entity;
 (c) include a proportion of each non‑qualifying Investment Entity's associated taxes for the Fiscal Year in the associated taxes for the Fiscal Year of each Constituent Entity‑owner of the non‑qualifying Investment Entity;