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  • Section A: International related party dealings

    Question 1a Country-by-Country reporting

    Country-by-Country (CbC) reporting under Subdivision 815-E of the ITAA 1997 requires relevant entities, such as CbC reporting entities in relation to income years or periods commencing on or after 1 July 2019 to provide three statements to the Commissioner:

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

    For more guidance on CbC reporting and country by country reporting entities refer to Country-by-Country reporting.

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

    Question 1b Local file – Part A

    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 2a International related party dealings

    If during 2020–21, 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 and go to question 2b.

    This aggregate amount is based on your accounting records.

    Question 2b Small business entity

    If you are a small business entity, are not a significant global entity, and your international related party dealings do not exceed $5 million and 50% of your 2020–21 aggregated turnover, answer Yes and go to question 18. Otherwise answer No and go to question 3.

    If during 2020–21, 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 $5 million, you do not need to determine whether your international related party dealings exceeded 50% of your current year aggregated turnover, answer No and go to question 3.

    To work out whether you are a small business entity and for more information about calculating your aggregated turnover, see Small business entity concessions – Eligibility.

    For information about significant global entities, see Significant global entities.

    Last modified: 08 Feb 2022QC 64900