Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-25 - RECORD-KEEPING AND OTHER OBLIGATIONS RELATING TO TAXPAYERS  

Division 396 - Third party reporting  

Subdivision 396-C - Common Reporting Standard  

Operative provisions

SECTION 396-110   MEANING OF CRS  

396-110(1)  
The CRS is the Common Reporting Standard set out in Part II.B of the Standard for Automatic Exchange of Financial Account Information in Tax Matters approved by the Council of the Organisation for Economic Co-Operation and Development on 15 July 2014.

Note:

In 2015, the text of the Standard was available on the OECD ' s website (http://www.oecd.org).

396-110(2)  
Subject to section 396-120 , for the purposes of this Subdivision, the *CRS must be applied consistently with Part III.B (the CRS Commentary ) of the Standard for Automatic Exchange of Financial Account Information in Tax Matters.


 

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