Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p20
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 50383–53218

in Australia.

2‑75  Number of employees in a jurisdiction
  For the purposes of sections 2‑65 and 2‑70:
 (a) the total number of employees is the total number of employees on a full‑time equivalent basis; and
 (b) treat independent contractors participating in the ordinary operating activities of a Constituent Entity as employees of the Constituent Entity.

2‑80  Meaning of Net Book Value of Tangible Assets
 (1) The Net Book Value of Tangible Assets for a Fiscal Year of a Constituent Entity of an MNE Group means the average of the beginning and end values for the Fiscal Year of the Constituent Entity's tangible assets after taking into account accumulated depreciation, depletion, and impairment, as recorded in the financial statements of the Constituent Entity.
 (2) For the purposes of subsection (1), tangible assets do not include cash or cash equivalents, intangibles, or financial assets.

2‑85  Employees and the Net Book Value of Tangible Assets of Investment Entities and Securitisation Entities to be disregarded
 (1) For the purposes of section 2‑65, disregard the employees and the Net Book Value of Tangible Assets for a Fiscal Year of any of the following:
 (a) an Investment Entity;
 (b) an Insurance Investment Entity.
 (2) For the purposes of section 2‑70, disregard the employees and the Net Book Value of Tangible Assets for a Fiscal Year of any of the following:
 (a) an Investment Entity;
 (b) an Insurance Investment Entity;
 (c) a Securitisation Entity for the Fiscal Year.
 (3) Paragraph (2)(c) does not apply if:
 (a) the Securitisation Entity is located in a jurisdiction in which no other Constituent Entities of the MNE Group are located; or
 (b) the only Constituent Entities of the MNE Group that are located in that jurisdiction are Securitisation Entities.

2‑90  Employees and the Net Book Value of Tangible Assets allocated to Permanent Establishment
  For the purposes of sections 2‑65 and 2‑70, if a Constituent Entity of an MNE Group is a Permanent Establishment:
 (a) treat the employees of the Permanent Establishment as being the employees whose payroll costs are included in the separate financial accounts of the Permanent Establishment in accordance with Part 3‑4 (for the purposes of computing the Financial Accounting Net Income or Loss of the Permanent Establishment); and
 (b) treat the employees of the Main Entity in respect of the Permanent Establishment as not including the employees mentioned in paragraph (a); and
 (c) treat the tangible assets of the Permanent Establishment as being the tangible assets that are included in the separate financial accounts of the Permanent Establishment in accordance with Part 3‑4 (for the purposes of computing the Financial Accounting Net Income or Loss of the Permanent Establishment); and
 (d) treat the tangible assets of the Main