Amending material errors
Material errors must be corrected within 28 days of the reporting entity becoming aware of the error. Whether an error is material is a matter of professional judgment. The relevant accounting standard must be used to determine whether an error in an item, or an aggregate of items is material and must be corrected.
An error is material if not correcting it means information is omitted, misstated, or obscured where this could be reasonably expected to influence the fair presentation of your Public CBC report.
Amending non-material errors
You may choose to lodge an amendment to your public CBC report to correct non-material errors. The entity may choose to rectify the non-material error by publishing the Public CBC report in the approved form again with the corrected information and using the same Public CBC reporting submission process.
Amending your Public CBC report
To amend your Public CBC report, complete the approved form again with the corrected information and publish it using the same Public CBC reporting submission process. The amended report will replace the original report published. You must complete all fields in the amended Public CBC report, including fields that have not been changed.
Questions on amendments
If you have any questions regarding amendments to your Public CBC report, contact your digital service provider in the first instance. These providers have developed their software in alignment with the ATO XML Schema specifications and are best positioned to assist with the technical aspect behind the approved form.
You can also contact the ATO for assistance at PublicCBC@ato.gov.au.
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