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Section A: International related party dealings

Last updated 5 November 2018

Question 1a

Country-by-Country (CbC) reporting

Country-by-Country (CbC) reporting introduced under Subdivision 815-E of the ITAA 1997 requires Australian entities that were a significant global entity in the previous income year to provide three statements to the Commissioner:

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

A significant global entity is:

  • a global parent entity whose annual global income of A$1 billion or more, or
  • a member of a group of entities that are consolidated for accounting purposes as a single group and one of the other members of the group is a global entity whose annual global income is A$1 billion or more.

An SGE can be an entity in a group that only has operations in Australia, including those that are privately owned.

CbC reporting applies to income years starting on or after 1 January 2016.

For more guidance on CbC reporting and significant global entities, refer to Country-by-Country reporting.

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

Question 1b

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 2

If during the income year, 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 at A item 2.

This aggregate amount is based on your accounting records.