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.