On 6 December 2019, the ATO uploaded a post, about the application of a still unlegislated Bill, to ‘significant global entities’ (SGEs) and modifications it proposes to make to the radically uplifted administrative penalties, that apply to SGEs. They concern subsidiaries, of ‘global parent entities’, which could be small and are already struggling with the harsh penalties designed for mammoth entities.
See below for a summary of the relevant parts of this Bill and their effect.
