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The ATO has released the registration form to be completed by your ultimate parent entity relating to the Public Country-by-Country Reporting (“Public CbCR”) regime which is now in effect. In addition, they have released guidance on the criteria for requesting partial or full exemptions from the ATO against the reporting obligations.
If you would like to discuss the new reporting regime or your eligibility for a partial or full exemption, you can fill in the eligibility questionnaire, or contact one of our experts below.
Key requirements
The new reporting requirement is a significant shift from the existing confidential CbC regime and introduces mandatory public disclosure of key financial and tax information for in-scope multinational groups. More details can be found here.
- Who is impacted: Multinational groups with annual global income of AUD $1 billion or more.
- What is required: Public disclosure of aggregated and jurisdiction-level data, including revenue, profit, number of employees, and taxes paid and accrued, as well as information on activities and group’s approach to tax.
- Effective date: Reporting applies to income years beginning on or after 1 July 2024. For example:
|
Year end |
Lodgement due date |
|
30 June 2025 |
30 June 2026 |
|
30 September 2025 |
30 September 2026 |
|
31 December 2025 |
31 December 2026 |
|
31 March 2026 |
31 March 2027 |
The rules contain a ‘de minimis’ threshold where groups with less than AUD $10 million of aggregated Australian source income will be exempt from the new reporting regime.
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