Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p19
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 47962–50641

of a law of the jurisdiction that is equivalent to this Part; and
 (b) that amount (the allocated amount) has not resulted in the Constituent Entities of the MNE Group located in the jurisdiction having an additional cash tax expense equal, in total, to the allocated amount, by:
 (i) if the jurisdiction's Qualified UTPR operates by denying deductions for Tax on income—the end of the second year after the last day on which an assessment in relation to the MNE Group for that Tax in relation to the prior Fiscal Year may be amended; or
 (ii) otherwise—the end of the second year after the end of the prior Fiscal Year.
 (3) If an MNE Group's UTPR Percentage for a Fiscal Year for a jurisdiction is zero under subsection (2), disregard the jurisdiction in computing the MNE Group's UTPR Percentage for the Fiscal Year of another jurisdiction under subsection (1).
 (4) Subsection (2) does not apply if, disregarding this subsection, the MNE Group's UTPR Percentage for the Fiscal Year for each jurisdiction that has a Qualified UTPR in force for the Fiscal Year is zero.

2‑70  Distribution of allocated Total UTPR Top‑Up Tax Amount to Australian Constituent Entity
 (1) For the purposes of this instrument, the amount of the Total UTPR Top‑up Tax Amount for an MNE Group for a Fiscal Year that is allocated to Australia under section 2‑60 (the Australian allocated amount) is distributed, in accordance with this section, to the Constituent Entities of the MNE Group that are located in Australia.
 (2) The amount of the Australian allocated amount distributed to a Constituent Entity of the MNE Group that is located in Australia is:
 (a) the Australian allocated amount;
multiplied by:
 (b) the percentage computed under the formula in subsection (3).
 (3) The formula is as follows:
where:
Number of employees of all CEs in Australia means the total number of employees of all Constituent Entities of the MNE Group located in Australia.
Number of employees of CE in Australia means the total number of employees of the Constituent Entity located in Australia.
Total value of tangible assets of all CEs in Australia means the sum of the Net Book Value of tangible assets for the Fiscal Year of all Constituent Entities of the MNE Group located in Australia.
Total value of tangible assets of CE in Australia means the sum of the Net Book Value of tangible assets for the Fiscal Year of the Constituent Entity located 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