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Taxation Administration Act 1953

PART IA - ADMINISTRATION

SECTION 3C REPORTING OF INFORMATION ABOUT CORPORATE TAX ENTITY WITH REPORTED TOTAL INCOME OF $100 MILLION OR MORE

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3C(1)

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This section applies to an entity for an income year if:

(a)

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the entity is a corporate tax entity; and

(b)

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the entity has total income equal to or exceeding $100 million for the income year, according to information reported to the Commissioner in the entity ' s income tax return for the income year.

An expression used in this subsection that is also used in the Income Tax Assessment Act 1997 has the same meaning as in that Act.

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History

S 3C(1) substituted by No 35 of 2022, s 3 and Sch 4 Pt 6 item 1, effective 10 August 2022 and applicable in relation to an entity for the 2022-23 income year and each later income year. S 3C(1) formerly read:

3C(1)
This section applies to a corporate tax entity for an income year if, according to information reported to the Commissioner in the entity ' s income tax return for the income year:

(a) the entity has total income equal to or exceeding $100 million for the income year and, at the end of the income year:

(i) the entity is not an Australian resident that is a private company for the income year; or

(ii) the entity is a member of a wholly-owned group that has a foreign resident ultimate holding company; or

(iii) the percentage of foreign shareholding in the entity is greater than 50%; or

(b) the entity has total income equal to or exceeding $200 million for the income year and, at the end of the income year, the entity is an Australian resident that is a private company for the income year.
An expression used in this subsection that is also used in the Income Tax Assessment Act 1997 has the same meaning as in that Act.

S 3C(1) amended by No 170 of 2015, s 3 and Sch 1 item 4A, by substituting para (a) and (b), applicable in relation to an entity for the 2013-14 income year and each later income year. Para (a) and (b) formerly read:

(a) the entity has total income equal to or exceeding $100 million for the income year; and

(b) at the end of the income year:

(i) the entity is not an Australian resident that is a private company for the income year; or

(ii) the entity is a member of a wholly-owned group that has a foreign resident ultimate holding company; or

(iii) the percentage of foreign shareholding in the entity is greater than 50%.

S 3C(1) substituted by No 149 of 2015, s 3 and Sch 1 item 1, applicable in relation to an entity for the 2013-14 income year and each later income year unless the Commissioner has, before 13 November 2015, made publicly available information about the entity for the income year under subsection 3C(2) of the Taxation Administration Act 1953 . S 3C(1) formerly read:

3C(1)
This section applies to an entity if:

(a) the entity is a corporate tax entity (within the meaning of the Income Tax Assessment Act 1997 ); and

(b) the entity has total income equal to or exceeding $100 million for an income year, according to information reported to the Commissioner in the entity ' s income tax return (within the meaning of that Act) for the income year.

3C(2)
The Commissioner must, as soon as practicable after the end of the income year, make publicly available the information mentioned in subsection (3) .

3C(3)
The information is as follows:

(a) the entity ' s ABN (within the meaning of the Income Tax Assessment Act 1997 ) and name;

(b) the entity ' s total income for the income year, according to information reported to the Commissioner in the entity ' s income tax return (within the meaning of that Act) for the income year;

(c) the entity ' s taxable income or net income (if any) for the income year, according to information reported to the Commissioner in that income tax return;

(d) the entity ' s income tax payable (if any) for the financial year corresponding to the income year, according to information reported to the Commissioner in that income tax return.

3C(4)

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Subsection (5) applies if:

(a) the entity gives the Commissioner a notice in writing that the return mentioned in paragraph (3)(b) contains an error; and

(b) the notice contains information that corrects the error.

3C(5)
The Commissioner may at any time make the information mentioned in paragraph (4)(b) publicly available, in accordance with subsection (2) , in order to correct the error.

3C(6)
To avoid doubt, if the Commissioner considers that information made publicly available under subsection (2) fails to reflect all of the information required to be made publicly available under that subsection, the Commissioner may at any time make publicly available other information in order to remedy the failure.

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History

S 3C inserted by No 124 of 2013, s 3 and Sch 5 item 1, applicable to: (a) the 2013-14 income year and later income years; and (b) the 2013-2014 MRRT year and later MRRT years; and (c) the year of tax (within the meaning of the Petroleum Resource Rent Tax Assessment Act 1987 ) starting on 1 July 2013 and later years of tax.

Former s 3C repealed by No 145 of 2010, s 3 and Sch 2 item 110, effective 17 December 2010. S 3C formerly read:

SECTION 3C SECRECY
3C(1)
In this section, " officer " means a person:

(a) who is or has been appointed or employed by the Commonwealth; or

(b) to whom powers or functions have been delegated by the Commissioner;
and who, by reason of the appointment or employment or in the course of the employment, or by reason of, or in the course of the exercise of powers or the performance of functions under, the delegation, as the case may be, may acquire or has acquired information with respect to the affairs of any other person disclosed or obtained under or for the purposes of this Act.

3C(1AA)
(Repealed by No 82 of 1993)
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S 3C(1AA) inserted by No 138 of 1987.

3C(1AB)
This section does not apply in relation to information disclosed or obtained under or for the purposes of Part III insofar as that Part applies in relation to the Development Allowance Authority Act 1992 or the Tax Agent Services Act 2009 .
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S 3C(1AB) amended by No 114 of 2009, s 3 and Sch 1 item 16, by inserting " or the Tax Agent Services Act 2009 " , effective 1 March 2010.

S 3C(1AB) inserted by No 98 of 1992.

3C(1A)
For the purposes of this section, a person who, although not appointed or employed by the Commonwealth, performs services for the Commonwealth shall be taken to be employed by the Commonwealth.
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S 3C(1A) inserted by No 123 of 1985.

3C(2)
Subject to subsection (4), a person who is or has been an officer shall not directly or indirectly:

(a) make a record of any information with respect to the affairs of a second person; or

(b) divulge or communicate to a second person any information with respect to the affairs of a third person;
being information disclosed or obtained under or for the purposes of this Act and acquired by the person by reason of the person ' s appointment or employment by the Commonwealth or in the course of such employment, or by reason of the delegation to the person of powers or functions by the Commissioner, or in the course of the exercise of such powers or the performance of such functions, as the case may be.

Penalty: $10,000 or imprisonment for 2 years, or both.

Note:

It is not a breach of subsection (2) to record or disclose information in accordance with an obligation Australia has under an agreement with another country. See section 23 of the International Tax Agreements Act 1953 .

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S 3C(2) amended by No 100 of 2006 , s 3 and Sch 2 item 2, by inserting the note at the end, applicable to requests for the exchange of information made after 14 September 2006.

S 3C(2) amended by No 146 of 2001, No 97 of 1988.

3C(2A)
Subsection (2) does not apply to the extent that the person makes a record of the information, or divulges or communicates the information:

(a) for the purposes of this Act; or

(b) in the performance of the person ' s duties as an officer.

(c) (Repealed by No 100 of 2006 )
Note:

A defendant bears an evidential burden in relation to the matters in this subsection, see subsection 13.3(3) of the Criminal Code .

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S 3C(2A) amended by No 100 of 2006 , s 3 and Sch 2 item 3, by substituting para (b) for para (b) and (c), applicable to requests for the exchange of information made after 14 September 2006. Para (b) and (c) formerly read:

(b) in the performance of the person ' s duties as an officer; or

(c) for the purposes of complying with an obligation Australia has under an agreement between Australia and another country.

S 3C(2A) substituted by No 10 of 2003, inserted by No 146 of 2001.

3C(3)
Except when it is necessary to do so for the purpose of carrying into effect the provisions of a taxation law, a person who is or has been an officer shall not be required:

(a) to produce in court any document made or given under or for the purposes of this Act; or

(b) to divulge or communicate to a court a matter or thing with respect to information disclosed or obtained under or for the purposes of this Act;
being a document or information acquired by the person by reason of the person ' s appointment or employment by the Commonwealth or in the course of such employment, or by reason of the delegation to the person of powers or functions by the Commissioner, or in the course of the exercise of such powers or the performance of such functions, as the case may be.

3C(4)
Nothing in subsection (2) prohibits the Commissioner, a Second Commissioner, a Deputy Commissioner or a person authorised by the Commissioner, a Second Commissioner or a Deputy Commissioner from communicating any information to:

(a) a person performing, as an officer, duties in relation to a taxation law, for the purpose of enabling the person to perform those duties; or

(b) if the information relates to the non-compliance of a private ancillary fund or charity (or a trustee of a private ancillary fund or charity) with a law of the Commonwealth, a State or a Territory - the Attorney-General of a State or Territory for the purposes of the administration of a law of the State or Territory governing trusts and charities.
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S 3C(4) substituted by No 88 of 2009, s 3 and Sch 2 item 17, effective 1 October 2009. S 3C(4) formerly read:

3C(4)
Nothing in subsection (2) shall be taken to prohibit the Commissioner, a Second Commissioner, a Deputy Commissioner or a person authorized by the Commissioner, a Second Commissioner or a Deputy Commissioner from communicating any information to a person performing, as an officer, duties in relation to a taxation law, for the purpose of enabling the person to perform those duties.

3C(5)
For the purposes of subsection (2), an officer shall be deemed to have communicated information to another person in contravention of that subsection if:

(a) the officer communicates that information to any Minister of State of the Commonwealth, any Minister of the Crown of a State or any Minister of the Northern Territory; and

(b) the information was acquired by the officer otherwise than for the purposes of Part II .
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S 3C(5) amended by No 123 of 1985.

3C(6)
An officer shall, if and when required by the Commissioner, a Second Commissioner or a Deputy Commissioner to do so, make an oath or declaration, in a manner and form specified by the Commissioner by instrument in writing, to maintain secrecy in conformity with the provisions of this section.

3C(7)
For the purposes of this section, information communicated to the Commissioner by a person performing a function, or exercising a power, under a law of a State or of an internal Territory relating to taxation shall be taken to have been acquired by the Commissioner for the purposes of this Act.
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S 3C(7) inserted by No 123 of 1985.

3C(8)
A reference in this section to a document or information acquired by a person does not include a reference to a document or information acquired by the person under a provision of this Part (other than this section) that authorises the disclosure of information.
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S 3C(8) inserted by No 107 of 1989.

3C(9)
In this section:
taxation law
(Repealed by No 54 of 2003)
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Definition of " taxation law " repealed by No 54 of 2003. For transitional provisions, see note under definition of " Customs diesel fuel rebate provision " in s 2(1) . The definition of " taxation law " formerly read:

taxation law
includes the Diesel and Alternative Fuels Grants Scheme Act 1999 .

Definition of " taxation law " inserted by No 201 of 1999.

this Act
does not include Part IVC , and does not include Part 3-10, and Divisions 355 and 382, in Schedule 1.
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Definition of " this Act " amended by No 88 of 2009, s 3 and Sch 5 item 250, by omitting " except insofar as it relates to Part IV " after " does not include Part IVC " , effective 18 September 2009.

Definition of " this Act " amended by No 73 of 2006 , s 3 and Sch 5 item 160, by substituting " Part 3-10, and Divisions 355 and 382, in Schedule 1 " for " Part VI " , effective 1 July 2006.

Definition of " this Act " amended by No 56 of 1999.

S 3C(9) inserted by No 216 of 1991.

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