Differences
This shows you the differences between two versions of the page.
| Both sides previous revisionPrevious revisionNext revision | Previous revision |
| wiki:contents:fatca:fatca_v_crs [2017/05/03 21:41] – [Report to Parliament] karen | wiki:contents:fatca:fatca_v_crs [2017/05/06 15:45] (current) – [Source Material] karen |
|---|
| ===== Report to Parliament ===== | ===== Report to Parliament ===== |
| |
| CRS requires the Tax Commissioner to report to Parliament the number of accounts reported under CRS. This is found in [[https://www.ato.gov.au/law/view/document?DocID=PAC%2F19530001%2FSch1-396-136&PiT=99991231235958|section 396-136 of the TAXATION ADMINISTRATION ACT 1953]]. The first report must be tabled in Parliament no later than the 15th sitting day after 31 December 2018.((I was unable to find a similar provision for FATCA. ~KA)) | CRS requires the Tax Commissioner to report to Parliament the number of accounts reported under CRS starting with calendar year 2018. This is found in [[https://www.ato.gov.au/law/view/document?DocID=PAC%2F19530001%2FSch1-396-136&PiT=99991231235958|section 396-136 of the TAXATION ADMINISTRATION ACT 1953]]. The first report must be tabled in Parliament no later than the 15th sitting day after 31 December 2020.((I was unable to find a similar provision for FATCA. ~KA)) |
| |
| :!: This provision is only half of the equation. We really OUGHT to be hearing how many records/accounts Australia RECEIVES from its CRS partners (and from the US under FATCA) :!: | :!: This provision is only half of the equation. We really OUGHT to be hearing how many records/accounts Australia RECEIVES from its CRS partners (and from the US under FATCA) :!: |
| * ATO Guidance for AEOI can be found [[https://www.ato.gov.au/General/International-tax-agreements/In-detail/International-arrangements/Automatic-exchange-of-information---guidance-material/|here]]. ([[http://web.archive.org/web/20170422081111/https://www.ato.gov.au/General/International-tax-agreements/In-detail/International-arrangements/Automatic-exchange-of-information---guidance-material/?page=1|Internet Archive]]) ((note that this consists of several pages that must be saved separately to the Internet Archive in the event of changes)) | * ATO Guidance for AEOI can be found [[https://www.ato.gov.au/General/International-tax-agreements/In-detail/International-arrangements/Automatic-exchange-of-information---guidance-material/|here]]. ([[http://web.archive.org/web/20170422081111/https://www.ato.gov.au/General/International-tax-agreements/In-detail/International-arrangements/Automatic-exchange-of-information---guidance-material/?page=1|Internet Archive]]) ((note that this consists of several pages that must be saved separately to the Internet Archive in the event of changes)) |
| * ATO Guidance for FATCA can be found [[https://www.ato.gov.au/general/international-tax-agreements/in-detail/international-arrangements/fatca-detailed-guidance/|here]]. ([[https://web.archive.org/web/20170422075445/https://www.ato.gov.au/general/international-tax-agreements/in-detail/international-arrangements/fatca-detailed-guidance/|Internet Archive]]) | * ATO Guidance for FATCA can be found [[https://www.ato.gov.au/general/international-tax-agreements/in-detail/international-arrangements/fatca-detailed-guidance/|here]]. ([[https://web.archive.org/web/20170422075445/https://www.ato.gov.au/general/international-tax-agreements/in-detail/international-arrangements/fatca-detailed-guidance/|Internet Archive]]) |
| | * 100 Countries have committed to CRS as of 5 May 2017: [[https://www.oecd.org/tax/transparency/AEOI-commitments.pdf]] |
| |
| It appears that the ATO may be merging the FATCA guidance into the AEOI guidance. | It appears that the ATO may be merging the FATCA guidance into the AEOI guidance. |
| |
