Australia: Common reporting standard (CRS) enacted | KPMG | GLOBAL

Australia: Common reporting standard (CRS) enacted

Australia: Common reporting standard (CRS) enacted

Common reporting standard (CRS) enabling legislation in Australia received Royal Assent and took effect on 18 March 2016.


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Enactment of this legislation provides Australian financial institutions with certainty concerning their obligations under the CRS regime. The start date for CRS obligations is 1 July 2017—over 12 months in the future. Still, Australian financial institutions want to begin preparing for CRS reporting now.


Read a March 2016 report [PDF 58 KB] prepared by the KPMG member firm in Australia

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