On August 27, 2025, the Australian Taxation Office issued a draft legislative instrument (the ‘Taxation Administration (Exemptions from Requirement to Lodge Australian IIR/UTPR tax return and Australian DMT tax return) Determination 2025’). This outlines situations when entities within the scope of the Pillar 2 GloBE rules do not need to file an Australian DMT Return or an IIR/UTPR Return.

On December 23, 2024, Australia issued the Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024 (the ‘Rules’) to provide for the detailed application of the Pillar 2 GloBE rules in Australia.

On December 23, 2024, Australia issued the Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024 to provide for the detailed application of the Pillar 2 GloBE rules in Australia.

On December 10, 2024, the Australian GloBE legislation received Royal Assent.

On November 26, 2024, the bills to implement the Pillar 2 GMT in Australia has been passed by the Senate. They now await Royal Assent for enactment.

On July 4, 2024, the Australian Government introduced legislation to implement the Pillar 2 GloBE rules into Parliament. This includes a domestic minimum tax, IIR and UTPR.

On March 7, 2024, the Australian Taxation Office provided an update on the implementation of Pillar Two.