Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p81
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 203097–205884

Flow‑through Entity's remaining Eligible Payroll Costs accrued for the Fiscal Year of its Eligible Employees and the carrying value for the Fiscal Year of its Eligible Tangible Assets.
 (5) For the purposes of subsections (2) and (3):
 (a) treat Eligible Employees who are not located in the jurisdiction where the Constituent Entity‑owner or Ultimate Parent Entity is located as not being Eligible Employees; and
 (b) treat Eligible Tangible Assets that are not located in that jurisdiction as not being Eligible Tangible Assets of the Flow‑through Entity.

5‑90  Allocation of amounts in relation to Deductible Dividend Regimes
 (1) This section applies, in relation to a Fiscal Year, if:
 (a) the Ultimate Parent Entity of an MNE Group is subject to a Deductible Dividend Regime; and
 (b) the GloBE Income of a Constituent Entity of the MNE Group has been reduced by an amount for the Fiscal Year under subsection 7‑20(2) or 7‑25(3).
 (2) For the purposes of sections 5‑50, 5‑55 and 5‑65:
 (a) reduce the Eligible Payroll Costs accrued for the Fiscal Year of Eligible Employees of the Constituent Entity by multiplying it by the proportion the amount mentioned in paragraph (1)(b) bears to the Constituent Entity's GloBE Income for the Fiscal Year, before the reduction mentioned in that paragraph; and
 (b) reduce the carrying value for the Fiscal Year of the Eligible Tangible Assets of the Constituent Entity by multiplying it by the same proportion.

Part 5‑4—Additional Current Top‑up Tax

5‑95  Additional Current Top‑up Tax—ETR Adjustment Provisions
 (1) This section applies if, for a Fiscal Year (the current Fiscal Year), the Effective Tax Rate and Jurisdictional Top‑up Tax of an MNE Group for a jurisdiction for a prior Fiscal Year are required or permitted to be recalculated under an ETR Adjustment Provision (see subsection (6)).
 (2) Recalculate the Effective Tax Rate and Jurisdictional Top‑up Tax of the MNE Group for the jurisdiction for the prior Fiscal Year in accordance with Parts 5‑1 to 5‑3, after taking into account the adjustments to Adjusted Covered Taxes and GloBE Income or Loss of Constituent Entities of the MNE Group for the jurisdiction for the prior Fiscal Year required by the relevant ETR Adjustment Provision.
 (3) If, disregarding this subsection, the recalculation results in an increase in the Jurisdictional Top‑up Tax of the MNE Group for the jurisdiction for the prior Fiscal Year:
 (a) despite that recalculation, do not include the increase in the Jurisdictional Top‑up Tax for the jurisdiction for the prior Fiscal Year; and
 (b) instead, treat the amount of that increase as an amount of Additional Current Top‑up Tax of the MNE Group for the jurisdiction for the current Fiscal Year, in respect of the prior Fiscal Year.
 (4) For the