Common Reporting Standard for the Automatic Exchange of Financial Account Information

The Common Reporting Standard (CRS) is the single global standard for the collection, reporting and exchange of financial account information on foreign tax residents. Under it, banks and other financial institutions will collect and report to us financial account information on non-residents. We will exchange this information with the participating foreign tax authorities of those non-residents. In parallel, we will receive financial account information on Australian residents from other countries' tax authorities. This will help ensure that Australian residents with financial accounts in other countries are complying with Australian tax law and act as a deterrent to tax evasion.


The CRS legislation received Royal Assent on 18 March 2016 and will take effect on 1 July 2017. The first exchange of information will occur in 2018.

Supporting Material

To assist financial institutions with the implementation of the CRS we have developed guidance material that will be updated quarterly as we receive and respond to further questions from industry.

For other information regarding the CRS you can refer to:


For information on previous and ongoing ATO consultation, refer to:

Media Releases

More Information

If you have any further questions regarding the CRS please contact the CRS Project Team.

    Last modified: 20 Apr 2016QC 44630