Document ID: chunk:federal_register_of_legislation:C2020A00049:clause:1_5:p1
Version: federal_register_of_legislation:C2020A00049
Segment Type: clause
Provision Reference: sch 1 cl 5 (pt 1/2)
Character Range: 2782–5372

5  At the end of Subdivision 815‑E
Add:

815‑370  Meaning of country by country reporting entity (or CBC reporting entity)
  An entity is a country by country reporting entity (or CBC reporting entity) for a period if:
 (a) the entity is a *CBC reporting parent for the period; or
 (b) the entity is a *member of a *CBC reporting group during the period and another member of that group is a CBC reporting parent for the period.

815‑375  Meaning of country by country reporting 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