Significant Global Entity definition broadened – to include groups headed by partnerships, trusts and private equity investors ($1b turnover threshold unchanged)
In the 8 May 2018 Federal Budget, the Government announced it would broaden the definition of ‘Significant Global Entity’ (SGE). The $1b turnover threshold will remain the same, but it will no longer be just a group headed by a public company or a private company required to provide consolidated financial statements. Subject to being legislated,…