Tax Laws Amendment (Implementation of the Common Reporting Standard) Act 2016 (23 of 2016)

Schedule 1   Common Reporting Standard

Part 1   Main amendments

Taxation Administration Act 1953

5   Before section 396-1 in Schedule 1

Insert:

396-1A What this Division is about

This Division requires financial institutions to give to the Commissioner information for the purposes of:

(a) the FATCA Agreement; and

(b) the Common Reporting Standard.

Subdivision 396-A - FATCA

Guide to Subdivision 396-A