Tax Laws Amendment (Implementation of the Common Reporting Standard) Act 2016 (23 of 2016)
Schedule 1 Common Reporting Standard
Part 1 Main amendments
Taxation Administration Act 1953
14 Application of amendments and CRS
(1) The amendments made by this Schedule apply to:
(a) the period from 1 July 2017 to 31 December 2017, as if the period were a calendar year; and
(b) 2018 and later calendar years.
(2) The date provided for in the CRS as mentioned in column 1 of an item of the following table is taken to be the date mentioned in column 2 of the item:
|
Dates |
||
|---|---|---|
|
Item |
Column 1
|
Column 2
|
|
1 |
the date provided for in subparagraph C(6) of Section III |
30 June 2017 |
|
2 |
the date provided for in paragraph D of Section III |
(a) in relation to a Preexisting Individual Account (within the meaning of the CRS) that is a Lower Value Account (within the meaning of the CRS) - 31 July 2019; and (b) in relation to a Preexisting Individual Account that is a High Value Account (within the meaning of the CRS) - 31 July 2018 |
|
3 |
the date provided for in paragraph A of Section V |
30 June 2017 |
|
4 |
the dates provided for in paragraph B of Section V |
30 June 2017 |
|
5 |
the first occurring date provided for in subparagraph E(1) of Section V |
30 June 2017 |
|
6 |
the last occurring date provided for in subparagraph E(1) of Section V |
31 July 2018 |
|
7 |
the date provided for in subparagraph E(2) of Section V |
30 June 2017 |
|
8 |
the date provided for in subparagraph B(8)(b) of Section VIII |
1 July 2017 |
|
9 |
the date provided for in subparagraph C(14) of Section VIII |
30 June 2017 |
|
10 |
the first occurring date provided for in subparagraph C(15) of Section VIII |
30 June 2017 |
|
11 |
the date provided for in subparagraph C(17)(f)(ii) of Section VIII |
1 July 2017 |
(3) For the purposes of:
(a) subparagraph C(6) of Section III of the CRS; and
(b) paragraphs A and B and subparagraph E(2) of Section V; and
(c) subparagraph C(15) of Section VIII;
the following periods are taken to be separate calendar years:
(d) the period from 1 January 2017 to 30 June 2017;
(e) the period from 1 July 2017 to 31 December 2017.