Income Tax Assessment Act 1997
You must give to the Commissioner a statement of each of the kinds referred to in subsection (3), in the *approved form, in relation to an income year if:
(a) you were a *CBC reporting entity for a period that includes the whole or a part of the income year that preceded that income year; and
(b) you are, during that income year, any of the following:
(i) an Australian resident;
(ii) a resident trust estate for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 ;
(iii) a partnership that has at least one partner who is an Australian resident;
(iv) a foreign resident who operates an Australian permanent establishment (within the meaning of Part IVA of the Income Tax Assessment Act 1936 );
(v) a non-resident trust estate (within the meaning of section 102AAB of the Income Tax Assessment Act 1936 ) that operates an Australian permanent establishment (within the meaning of Part IVA of that Act);
(vi) a partnership that operates an Australian permanent establishment (within the meaning of that Part); and
(c) you are not exempted under section 815-365 from giving the statement; and
(d) you are not included in a class of entities prescribed by the regulations.
Under section 815-360 , the Commissioner may allow you to give statements in relation to a 12 month period other than an income year.
You must give the statement within 12 months after the end of the period to which it relates.
The statements are to be of the following kinds:
(a) a statement relating to the global operations and activities, and the pricing policies relevant to transfer pricing, of:
(i) you; and
(ii) if you were a *member of a *CBC reporting group during the previous income year - the other members of that group;
(b) a statement relating to your operations, activities, dealings and transactions;
(c) a statement relating to the allocation between countries of the income and activities of, and taxes paid by:
(i) you; and
(ii) if subparagraph (a)(ii) applies - the other members of that group.
These statements correspond to the following in Annexes I, II and III to Chapter V set out in the Guidance on Transfer Pricing Documentation and Country-by-country Reporting of the Organisation for Economic Cooperation and Development and the G20:
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