The Australian Taxation Office (ATO) has issued a notice regarding updated guidance on the expanded definition of a significant global entity (SGE).
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Guidance on the expanded SGE definition
We have updated our guidance to reflect recent legislative changes that broaden the definition of a significant global entity (SGE). The SGE definition now applies:
- to entities belonging to groups of entities whose annual global income is over A$1 billion
- regardless of whether audited consolidated …