We’ve updated our website and PCG 2018/9 Central management and control test of residency: identifying where a company's central management and control is located to:
- reflect the amendments to section 295 of the Corporations Act 2001 enacted in December 2024 regarding the Consolidated Entity Disclosure Statement (CEDS)
- confirm the PCG may assist companies required to complete the CEDS for their annual financial reports
- clarify that a company won't be considered ‘low risk’ under the PCG if it self-assesses and reports as a non-resident for Australian tax purposes but has inconsistently reported as an Australian tax resident in the CEDS. This applies for financial years commencing on, or after, 1 July 2024.
The updates reflect the amendments in the Treasury Laws Amendment (Fairer for Families and Farmers and Other Measures) Act 2024. These amendments ensure tax residency disclosures in the CEDS align with tax return disclosures, to improve multinational tax transparency.
ASIC’s information sheetExternal Link has also been updated.
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