Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p1
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 1/3)
Character Range: 1006307–1009478

3                          *shortfall interest charge in relation to a *Fiscal Year                                                             each of the following entities:
                                                                                                                                                (a) an entity that is the trustee of the trust at the end of the Fiscal Year;
                                                                                                                                                (b) an entity that is the trustee of the trust at a time that is:
                                                                                                                                                (i) after the end of the Fiscal Year; and
                                                                                                                                                (ii) before the shortfall interest charge has been paid.

Commissioner has direct access to trust assets
 (3) For the purpose of ensuring the payment of an amount payable by an entity under this section in relation to a liability of a trust, the Commissioner has the same remedies against the property of the trust as the Commissioner would have against the property of the entity.

Right of indemnity
 (4) An entity that pays an amount of a liability it has under this section is entitled to be indemnified out of the assets of the trust for the liability.

Offences
 (5) Any offence against the *Minimum Tax law that is committed by a trust is taken to have been committed by the trustee of the trust, or, if the trust has more than one trustee, by each of the trustees.
 (6) In a prosecution of an entity for an offence that the entity is taken to have committed because of subsection (5), it is a defence if the entity proves that the entity:
 (a) did not aid, abet, counsel or procure the relevant act or omission; and
 (b) was not in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the entity).
Note 1: The defence in subsection (6) does not apply in relation to offences under Part 2.4 of the Criminal Code.
Note 2: A defendant bears a legal burden in relation to the matters in subsection (6): see section 13.4 of the Criminal Code.

128‑20  Partnerships

Application
 (1) This section applies in relation to a *GloBE partnership that is not:
 (a) a *GloBE Joint Venture of an *Applicable MNE Group; or
 (b) a *GloBE JV Subsidiary of a GloBE Joint Venture of an Applicable MNE Group.

Obligations
 (2) Subject to subsection (3), if an obligation is imposed under the *Minimum Tax law on the *GloBE partnership, the obligation is imposed on each partner of the GloBE partnership, but may be discharged by any such partner.

Liabilities to pay an amount
 (3) If an amount is payable under the *Minimum Tax law by the *GloBE partnership, the partners of the GloBE partnership are jointly and severally liable to pay the amount.

Offences
 (4) Any offence against the *Minimum Tax law that is committed by the *GloBE partnership is