On 12 February 2020, the Treasury Laws Amendment (2020 Measures No. 1) Bill 2020 was submitted in the Australian House of Representatives. As provided in the explanatory memorandum, the bill includes amendments to broaden the definition of a significant global entity in the tax law so that it: applies to groups of entities headed by an entity other than a listed company in the same way as it applies to groups headed by a listed company; and applies despite exceptions to when a group of entities must prepare consolidated accounts, including materiality rules, in the applicable accounting rules. The amendments...