Document ID: chunk:federal_register_of_legislation:C2025C00029:section:25:p3
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 25 (pt 3/4)
Character Range: 7862949–7865777

Act.
Australian financial services licence has the same meaning as in the Corporations Act 2001.
Australian fund has the meaning given by section 74 of the Life Insurance Act 1995.
Australian GloBE tax means:
 (a) *Australian DMT tax; and
 (b) *Australian IIR tax; and
 (c) *Australian UTPR tax.
Australian GloBE tax affairs means affairs relating to:
 (a) *Australian IIR/UTPR tax; or
 (b) *Australian DMT tax.
Australian government agency means:
 (a) the Commonwealth, a State or a Territory; or
 (b) an authority of the Commonwealth or of a State or a Territory.
Australian IIR tax means tax payable under section 6 of the *Minimum Tax Act.
Note: IIR is short for income inclusion rule.
Australian IIR/UTPR tax means:
 (a) *Australian IIR tax; and
 (b) *Australian UTPR tax.
Australian IIR/UTPR tax amount means:
 (a) an IIR Top‑up Tax Amount (within the meaning of the *Minimum Tax Act); or
 (b) a UTPR Top‑up Tax Amount (within the meaning of that Act).
Australian IIR/UTPR tax return has the meaning given by section 127‑35 in Schedule 1 to the Taxation Administration Act 1953.
Australian law means a *Commonwealth law, a *State law or a *Territory law.
Australian legislature means:
 (a) the Parliament of the Commonwealth of Australia; or
 (b) the Parliament of a State; or
 (c) the Legislative Assembly for the Australian Capital Territory; or
 (d) the Legislative Assembly of the Northern Territory of Australia.
Australian/overseas fund has the meaning given by section 74 of the Life Insurance Act 1995.
Australian permanent establishment, of an entity, means a *permanent establishment of the entity that is in Australia.
Australian resident means a person who is a resident of Australia for the purposes of the Income Tax Assessment Act 1936.
Australian source: without limiting when *ordinary income or *statutory income has an Australian source, it has an Australian source if it is *derived from a source in Australia for the purposes of the Income Tax Assessment Act 1936.
Australian‑sourced amount has the meaning given by the regulations mentioned in section 312‑5 (about trans‑Tasman portability of retirement savings).
Australian superannuation fund has the meaning given by section 295‑95.
Australian trust has the same meaning as in Part X of the Income Tax Assessment Act 1936.
Australian UTPR tax means tax payable under section 10 of the *Minimum Tax Act.
Note: UTPR is short for undertaxed profits rule.
Australian venture capital fund of funds has the meaning given by subsection 118‑410(3).
authorised ASIO officer has the meaning given by section 355‑70 in Schedule 1 to the Taxation Administration Act 1953.
authorised law enforcement agency officer has the meaning given by section 355‑70 in Schedule 1 to the Taxation Administration Act 1953.
available expense has the meaning given by section