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  • Section A: International related party dealings

    Attention

    Warning:

    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