Australia Publishes Local and Master File Guidance for 2018

The Australian Taxation Office has published Local file instructions 2018 and Local file/master file 2018 to provide guidance for taxpayers to comply with their reporting obligations.

Local File Instruction 2018

The Local file instructions 2018 set out the basic requirements for the submission of the Local file, which is comprised of three parts; short form, part A, and part B. The local file must be electronically lodged in the approved form (an XML file generated in accordance with an…