Australian public country-by-country reporting requirements

Australia’s Public Country by Country (CbC) Reporting regime represents a significant step toward enhancing tax transparency for large multinational enterprises (MNEs). Effective for reporting periods starting on or after 1 July 2024, the regime requires certain entities to publicly disclose selected tax information, either on a country by country basis or in aggregated form.

Who needs to report

Public CbC reporting parents are required to comply. The rules apply to MNEs with global income of A$1 billion or more that are not controlled by another group entity. MNEs is required to have an Australian presence, either headquartered. or through subsidiaries or a permanent establishment, and the regime only applies where Australian sourced aggregated turnover is at least A$10 million. What that means for you is a clear threshold test that brings large groups into scope.

Who lodges and when

The reporting obligation sits with the Public CbC reporting parent, not the Australian subsidiary unless it independently qualifies. Reports must be lodged with the ATO within 12 months of the end of the reporting period. Significant penalties apply for missing deadlines.

What must be disclosed

Disclosures cover revenue, profit, income tax paid and accrued, employee numbers, tangible assets, business activities and the group’s approach to tax.

Data is required to be reported on a country-by-country basis for Australia and specified jurisdictions such as Hong Kong, Singapore and Switzerland . For other jurisdictions, entities may choose between country-by-country or aggregated reporting. Information must be lodged in XML format and will be published on an Australian Government website. This means public scrutiny and not just regulatory review.

Exemptions and penalties

The Commissioner may grant full or partial exemptions for a single reporting period, based on factors such as national security, legal restrictions or commercial sensitivity. Applications must be supported by clear evidence. Penalties apply for non‑compliance, reinforcing the importance of governance, and timely and accurate reporting.

How we can help

Our support can provide focus for you when preparing for public disclosure including building governance frameworks, strengthening data collection and preparing clear, compliant reports that meet ATO expectations and gives your business confidence. Our team can help your business reduce compliance risk, protect its reputation, and stay ahead as global transparency standards continue to evolve.