3DPublication of information by certain country by country reporting entities

#### 3D Publication of information by certain country by country reporting entities (1) This section applies to an entity for a period mentioned in subsection (2) (the reporting period) if: (a) the entity is: (i) a constitutional corporation; or (ii) a partnership in which each of the partners is a constitutional corporation; or (iii) a trust of which each of the trustees is a constitutional corporation; and (b) the entity was a country by country reporting parent for a period that includes the whole or a part of the period mentioned in subsection (2) that preceded the reporting period; and (c) the entity is a member of a country by country reporting group at any time during the reporting period; and (d) at any time during the reporting period, the entity or another member of the country by country reporting group is: (i) an Australian resident; or (ii) a foreign resident who operates an Australian permanent establishment (within the meaning of Part IVA of the Income Tax Assessment Act 1936); and (e) assuming that the reporting period were an income year, both of the following apply: (i) the entity’s aggregated turnover for the income year includes one or more amounts of income from an Australian source; (ii) the sum of those amounts is $10 million or more; and (f) the entity is not included in a class of entities: (i) prescribed by the regulations for the purposes of this subparagraph; or (ii) specified in a legislative instrument under subsection 3DB(4); and (g) the entity and the reporting period are not specified in an exemption under subsection 3DB(5). (2) For the purposes of subsection (1), the period is: (a) if paragraph (b) of this subsection does not apply—each period for which audited consolidated financial statements for the entity for the period are prepared; or (b) if the entity does not prepare audited consolidated financial statements—each period for which the entity would be, on the assumption that the entity were a listed company (within the meaning of section 26BC of the Income Tax Assessment Act 1936), required to prepare such statements. Publication of information (3) An entity to which this section applies for a reporting period must, within 12 months after the end of the reporting period: (a) publish the information set out in subsection 3DA(1), except to the extent the entity, the information and the reporting period are specified in an exemption under subsection 3DB(6); and (b) do so by giving a document containing the information to the Commissioner in the approved form. > Note: Subsection 288‑140(1) in Schedule 1 provides for an administrative penalty for failing to comply with this subsection on time. (4) The Commissioner must, as soon as practicable after receiving the document given in accordance with paragraph (3)(b), make the information in the document available on an Australian government website. Government related entities (5) This section does not apply to a corporate tax entity for a period mentioned in subsection (2) if: (a) the entity is a government related entity (within the meaning of the A New Tax System (Goods and Services Tax) Act 1999); and (b) the Commissioner has given notice to the entity for the period under subsection (6). (6) For the purposes of paragraph (5)(b), the Commissioner may give notice in writing to a government related entity (within the meaning of the A New Tax System (Goods and Services Tax) Act 1999) for one or more specified periods if the Commissioner considers that it is appropriate to do so. Interpretation (7) An expression used in this section or section 3DA or 3DB that is also used in the Income Tax Assessment Act 1997 has the same meaning as in that Act.