Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p10
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 10/11)
Character Range: 7021626–7024277

parent (or CBC reporting parent)
 (1) An entity is a country by country reporting parent (or CBC reporting parent) for a period if:
 (a) the entity is not an individual; and
 (b) if the entity is a *member of a *CBC reporting group at the end of the period—it is an entity that, according to:
 (i) *accounting principles; or
 (ii) if accounting principles do not apply in relation to the entity—commercially accepted principles related to accounting;
  is not controlled by any other member of the CBC reporting group at the end of the period; and
 (c) the entity's *annual global income for the period is $1 billion or more.
 (2) For the purposes of paragraph (1)(c), in working out the entity's *annual global income for the period, treat the reference in paragraph 960‑565(1)(aa) to *notional listed company group as instead being a reference to *CBC reporting group.

815‑380  Meaning of country by country reporting group (or CBC reporting group)
 (1) A group of entities is a country by country reporting group (or CBC reporting group) if:
 (a) none of the entities is an individual; and
 (b) any of the following requirements are satisfied:
 (i) the group is consolidated for accounting purposes as a single group;
 (ii) the group is a *notional listed company group.
 (2) Each entity in the group is a member of the *CBC reporting group.
 (3) Subsection (5) applies if:
 (a) all the members of a group that is consolidated for accounting purposes as a single group (the smaller group) are members of:
 (i) another such group; or
 (ii) a *notional listed company group; and
 (b) at least one entity is a member of the group mentioned in subparagraph (a)(i) or (ii) but is not a member of the smaller group.
 (4) Subsection (5) also applies if:
 (a) all the *members of a notional listed company group (the smaller group) are members of:
 (i) another such group; or
 (ii) a group that is consolidated for accounting purposes as a single group; and
 (b) at least one entity is a member of the group mentioned in subparagraph (a)(i) or (ii) but is not a member of the smaller group.
 (5) For the purposes of subsection (1), treat the smaller group as not being any of the following:
 (a)  a group that is consolidated for accounting purposes as a single group;
 (b) a *notional listed company group.
 (6) For the purposes of this section, assume that paragraph 960‑575(4)(a) were disregarded:
 (a) in determining whether a *notional listed company group exists; and
 (b) in identifying the *members of a notional listed company group.
Note: The effect of that assumption is that certain exceptions in accounting or other principles to requirements