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  • Section A: International related party dealings



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Question 1a

    Country-by-Country (CbC) reporting

    Country-by-Country (CbC) reporting introduced under Subdivision 815-E of the ITAA 1997 requires Australian entities that were a significant global entity in the previous income year to provide three statements to the Commissioner:

    • a CbC report
    • a master file
    • a local file.

    A significant global entity is:

    • a global parent entity whose annual global income of A$1 billion or more, or
    • a member of a group of entities that are consolidated for accounting purposes as a single group and one of the other members of the group is a global entity whose annual global income is A$1 billion or more.

    An SGE can be an entity in a group that only has operations in Australia, including those that are privately owned.

    CbC reporting applies to income years starting on or after 1 January 2016.

    For more guidance on CbC reporting and significant global entities, refer to Country-by-Country reporting.

    If Country-by-Country reporting applies to you, answer Yes and go to question 1b.

    Question 1b

    If Country-by-Country reporting applies to you, and you have lodged Part A of your local file at the same time as your income tax return, answer Yes and go to question 18.

    For more information about the local file, see Country-by-Country reporting.

    Question 2

    If during the income year, the aggregate amount of your international related party dealings, including the value of any property or services transferred or the balance of any loans, exceeded $2 million, answer Yes at A item 2.

    This aggregate amount is based on your accounting records.

    Last modified: 06 Nov 2018QC 55230