Document ID: chunk:federal_register_of_legislation:C2015A00162:clause:4_1
Version: federal_register_of_legislation:C2015A00162
Segment Type: clause
Provision Reference: sch 4 cl 1
Character Range: 20286–22181

1  At the end of Division 396 in Schedule 1
Add:

Subdivision 396‑B—Information about transactions that could have tax consequences for taxpayers

Guide to Subdivision 396‑B

396‑50  What this Subdivision is about
      The Commissioner can require certain entities to give information about transactions that could reasonably be expected to have tax consequences for other entities.

Table of sections

Operative provisions
396‑55 Reporting tax‑related information about transactions to the Commissioner
396‑60 Information required
396‑65 Exemptions—wholesale clients
396‑70 Exemptions—other cases
396‑75 Errors in reports

Operative provisions

396‑55  Reporting tax‑related information about transactions to the Commissioner
  An entity mentioned in column 1 of an item of this table must:
 (a) prepare a report in the *approved form setting out information about any transactions described in that item that happened during this period:
 (i) a *financial year; or
 (ii) such other period as the Commissioner specifies by legislative instrument for that item; and
 (b) give the report to the Commissioner on or before:
 (i) the 31st day after the end of that period; or
 (ii) such other time after the end of that period as the Commissioner specifies by legislative instrument for that item;
unless section 396‑65, or a notice or determination under section 396‑70, provides that the entity is not required to do so.

Information to be reported by third parties about transactions
                                                                Column 1                                                                                                         Column 2
Item                                                            This entity:                                                                                                     must report information about this transaction: