The Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Bill 2023 was submitted in the Australian House of Representatives on 23 June 2023, including new subsidiary disclosure rules (Schedule 1) and interest deduction limitation (thin capitalisation) rules (Schedule 2) with effect from 1 July 2023. The new rules are explained in the explanatory memorandum as follows:
Schedule 1 - Multinational tax transparency—disclosure of subsidiaries
Schedul…