Tax Laws Amendment (Implementation of the Common Reporting Standard) Act 2016 (23 of 2016)

Schedule 1   Common Reporting Standard

Part 1   Main amendments

Income Tax Assessment Act 1997

1   Subsection 995-1(1)

Insert:

CRS (short for Common Reporting Standard) has the meaning given by subsection 396-110(1) in Schedule 1 to the Taxation Administration Act 1953.

CRS Commentary has the meaning given by subsection 396-110(2) in Schedule 1 to the Taxation Administration Act 1953.