Australia: CRS to be implemented from July 2017 | KPMG | GLOBAL

Australia: CRS to be implemented from July 2017

Australia: CRS to be implemented from July 2017

The Australian Taxation Office (ATO) on 18 May 2016 issued a release confirming that effective from 1 July 2017, financial institutions—including banks—will report to the ATO information on accounts held by foreign tax residents. The ATO will begin to exchange foreign resident account information with the participating tax authorities of those non-residents from 2018.


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The ATO also released guidance concerning the automatic exchange of information (AEOI) procedures.

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