Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p7
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 7/16)
Character Range: 981572–984378

is liable to pay in relation to the Fiscal Year is nil.
 (2) The *GloBE Information Return given under subsection (1) must:
 (a) be *lodged electronically; and
 (b) be in the *approved form.
 (3) A GloBE Information Return, in respect of an *Applicable MNE Group for a *Fiscal Year, is a return that:
 (a) if a determination under subsection (4) specifies requirements—is in accordance with those requirements; and
 (b) if paragraph (a) does not apply—is in accordance with the standardised return developed in accordance with the *GloBE Implementation Framework, as amended from time to time; and
 (c) contains the following information concerning the Applicable MNE Group:
 (i) identification of the *Constituent Entities of the Applicable MNE Group, including the jurisdiction in which they are *GloBE located for the Fiscal Year and their status under the *GloBE Rules;
 (ii) information on the overall corporate structure of the Applicable MNE group in the Fiscal Year;
 (iii) information relevant to the determination of Effective Tax Rates (within the meaning of the GloBE Rules), Top‑up Tax (within the meaning of the GloBE Rules) and allocation of Top‑up Tax for the Fiscal Year;
 (iv) elections made, for the Fiscal Year, in accordance with the relevant provisions of the GloBE Rules;
 (v) other information that is agreed as part of the GloBE Implementation Framework and is necessary to carry out the administration of the GloBE Rules.
 (4) For the purposes of paragraph (3)(a), the Commissioner may, by legislative instrument, make a determination specifying requirements for a return.

127‑10  GloBE Information Returns given by Designated Local Entities
 (1) This section applies if a *Designated Local Entity in relation to a *GloBE Information Return in respect of an *Applicable MNE Group for a *Fiscal Year gives the GloBE Information Return to the Commissioner in accordance with subsection 127‑5(2).
 (2) Each other *Group Entity of the *Applicable MNE Group that is *GloBE located in Australia for the *Fiscal year is taken to give the *GloBE Information Return to the Commissioner at the time the *Designated Local Entity gives the GloBE Information Return to the Commissioner.

127‑15  Meaning of Designated Local Entity
A Designated Local Entity, of an *Applicable MNE Group for a *Fiscal Year, is a *Group Entity of the Applicable MNE Group that:
 (a) is *GloBE located in Australia for the Fiscal Year; and
 (b) has been appointed by every other Group Entity of the Applicable MNE Group that is GloBE located in Australia for the Fiscal Year to give to the Commissioner:
 (i) the *GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year; or
 (ii) a notice mentioned in paragraph 127‑20(2)(b) in respect of the Applicable MNE Group for the Fiscal Year.