Show download pdf controls
  • Australian CRS reportable accounts by jurisdiction

    We use the Common Reporting Standard (CRS) to collect details about Australian Financial Accounts held by foreign tax residents. We exchange this information with participating foreign tax authorities of those foreign tax residents.

    Reports with CRS statistics by jurisdiction are presented annually in both Houses of Federal Parliament.

    On this page

    The CRS in Australia

    The CRS is the single global standard for the collection, reporting and exchange of financial account information on foreign tax residents. The CRS was introduced in Australia as part of a range of measures administered by the Tax Avoidance Taskforce (taskforce), which ensures multinational enterprises, large public businesses, private businesses and associated individuals pay the right amount of tax in Australia.

    The taskforce has contributed to the ATO raising tax liabilities of $22.9 billion and collecting $15.9 billion in cash, from 1 July 2016 to 30 June 2021. The information we receive from our international exchange partners under the CRS helps inform the taskforce's work in identifying, investigating and ensuring foreign sourced income and assets held in foreign financial accounts by Australian residents are declared. Our use of sophisticated data matching and analytics ensures we gain extensive value from the data, and we use this widely in our compliance and assurance activities.

    We work closely with other international jurisdictions. CRS data is exchanged globally using exchange of information agreements with foreign tax authorities. We have been progressively building closer relationships with international partners. This also includes work with the Joint Chiefs of Global Tax Enforcement (J5) and the Joint International Taskforce on Shared Intelligence and Collaboration (JITSIC).

    The OECD Global Forum monitors and reviews the CRS through Peer Reviews on each jurisdiction’s legal framework, compliance framework and data and security safeguards. The Organisation for Economic Co-operation and Development (OECD) Global Forum has determined that Australia's domestic and international legal framework is substantially in place for the CRS.

    To meet the compliance framework requirement, we have designed and implemented a CRS compliance program and Top 10 Strategy. The Top 10 Strategy provides us with assurance that over 95% of all reportable accounts held in Australia by foreign tax residents are correctly identified and reported us each reporting period. This ensures the data we collect and exchange with our partner jurisdictions is of high quality.  

    Annual reporting

    The first report with CRS statistics by jurisdiction was presented in both Houses of Federal Parliament in March 2020.

    CRS reports contain aggregate information on Australian Financial Accounts held by foreign tax residents as at 31 December of the previous reporting period.

    Prior annual CRS reports

    You can view the annual reports that have been presented to date below.

    Last modified: 08 Apr 2022QC 63353