The Australian Taxation Office (ATO) has updated its guidance on CbC reporting exemptions and administrative relief for requests received from 1 January 2025, which is relevant to CbC report obligations, as well as master and local file obligations. The main updates are summarized as follows:
Division 50 Tax Exempt Entities
The updated guidance provides clarity on how the automatic relief applies to the broader corporate group of a Division 50 entity. While the previous version only state…