396-1A
CurrentWhat this Division is about
Volume 3Schedule 1, Chapter 4, Part 4-30 to Chapter 5, Part 5-100 (sections 308-1 to 990-5)
Schedule 1Collection and recovery of income tax and other liabilities
Chapter 5Administration
Part 5-25Record‑keeping and other obligations relating to taxpayers
Division 396Third party reporting
396-1A What this Division is about
This Division requires:
(a)
financial institutions to give to the Commissioner information for the purposes of the FATCA Agreement and the Common Reporting Standard; and
(b)
certain entities to give to the Commissioner information about transactions that could have tax consequences for other entities.
This Act’s bill:Second reading speech
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