Commonwealth Consolidated Acts

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Requirement to give statements

             (1)  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.

Note:          Under section 815-360, the Commissioner may allow you to give statements in relation to a 12 month period other than an income year.

             (2)  You must give the statement within 12 months after the end of the period to which it relates.

Note:          Section 388- 55 in Schedule 1 to the Taxation Administration Act 1953 allows the Commissioner to defer the time for giving the statement.

             (3)  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 are a * member of a * CBC reporting group during the 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.

Note:          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:

(a)    a statement under paragraph (a) corresponds to the master file (see Annexe I);

(b)    a statement under paragraph (b) corresponds to the local file (see Annexe II);

(c)    a statement under paragraph (c) corresponds to the country-by-country report (see Annexe III).

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