On 3 December 2015, Australia's House of Representative passed the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015 ({News-2015-09-17/P/2- previous coverage}) following passage by the Senate. The legislation includes:

• A standard for defining a Significant Global Entity (SGE), which is an entity that is part of a consolidated group with annual revenue of AUD 1 billion or mor…