Income Tax Assessment Act 1997



Division 815 - Cross-border transfer pricing  

Subdivision 815-E - Reporting obligations for country by country reporting entities  

Operative provisions

SECTION 815-375   Meaning of country by country reporting parent (or CBC reporting parent )  

An entity is a country by country reporting parent (or CBC reporting parent ) for a period if:

(a) the entity is not an individual; and

(b) if the entity is a *member of a *CBC reporting group at the end of the period - it is an entity that, according to:

(i) *accounting principles; or

(ii) if accounting principles do not apply in relation to the entity - commercially accepted principles related to accounting;
is not controlled by any other member of the CBC reporting group at the end of the period; and

(c) the entity ' s *annual global income for the period is $1 billion or more.

For the purposes of paragraph (1)(c), in working out the entity ' s *annual global income for the period, treat the reference in paragraph 960-565(1)(aa) to *notional listed company group as instead being a reference to *CBC reporting group.


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