Taxation Administration Act 1953
Note: See section 3AA .Chapter 5 - Administration
SECTION 396-1 WHAT THIS SUBDIVISION IS ABOUT
This Subdivision gives effect to the FATCA Agreement between the Government of Australia and the Government of the United States of America.
Reporting Australian Financial Institutions must give the Commissioner certain information about U.S. Reportable Accounts. For the 2015 and 2016 calendar years, they must also give the Commissioner information about payments made to Nonparticipating Financial Institutions.
This Subdivision also creates record-keeping obligations in relation to the requirements to give the Commissioner information.
|Statements about U.S. Reportable Accounts
|Statements about payments to Nonparticipating Financial Institutions
|Meaning of the FATCA Agreement
|Permissions and elections