Document ID: chunk:federal_register_of_legislation:C2024A00134:clause:1_35:p10
Version: federal_register_of_legislation:C2024A00134
Segment Type: clause
Provision Reference: sch 1 cl 35 (pt 10/10)
Character Range: 42582–44991

an *Australian law from entering into any arrangement under which the Group Entity becomes subject to a liability referred to in that subsection.

128‑10  Additional liability of Entities in a JV Group
 (1) Subsection (2) applies if an amount is payable under the *Minimum Tax law by any of the following:
 (a) a *GloBE Joint Venture of an *Applicable MNE Group;
 (b) a *GloBE JV Subsidiary of a GloBE Joint Venture of an Applicable MNE Group.
 (2) Each of the following Entities (other than an Entity excluded by subsection (3)) is jointly and severally liable to pay the amount:
 (a) the *GloBE Joint Venture;
 (b) a *GloBE JV Subsidiary of the GloBE Joint Venture;
 (c) a *Group Entity of the *Applicable MNE Group that holds a Direct Ownership Interest (within the meaning of the *Minimum Tax Act) in the GloBE Joint Venture.
 (3) For the purposes of subsection (2), an Entity is excluded by this subsection if it is, at the time the amount becomes due and payable, prohibited according to the effect of an *Australian law from entering into any arrangement under which the Entity becomes subject to a liability referred to in subsection (2).

Subdivision 128‑B—Extended application to certain types of entity

Table of sections
128‑15 Trusts
128‑20 Partnerships
128‑25 Unincorporated GloBE Joint Ventures, etc. and certain unincorporated Group Entities

128‑15  Trusts

Obligations
 (1) Subject to subsection (2), if an obligation is imposed under the *Minimum Tax law on a trust, the obligation is imposed on each of the following entities, but may be discharged by any such entity:
 (a) an entity that is the trustee of the trust at the time the obligation arises;
 (b) an entity that is the trustee of the trust at a time that is:
 (i) after the obligation arises; and
 (ii) before the obligation has been discharged.

Liabilities to pay an amount
 (2) If an amount is payable under the *Minimum Tax law by a trust, joint and several liability to pay the amount is imposed as set out in the table:

Amounts payable by trusts
Item                       Column 1                                                                                                             Column 2
                           If the amount is:                                                                                                    then the following entities are jointly and severally liable to pay the amount: